HCB still firm favourite to take over Linder Myers as talks continue
AN unnamed suitor – widely believed to be Solihull-based HCB Solicitors – has been given more time to complete a deal to take over troubled North West law firm Linder Myers.
It was revealed ten days ago that HCB has emerged as the favourite to take over Linder Myers.
HCB, which has swallowed up a number of rivals in recent times, incorporated a company called HCB Linder Myers the day after the Manchester-based firm announced its intention to appoint administrators.
HCB Linder Myers has been listed as a private limited company, registered to a Solihull address, and is listed as active.
Now Bernard Seymour, Linder Myers’ managing partner, has confirmed talks with a suitor are on-going.
He said: “We are currently in advanced negotiations with a potential partner and have applied for an extension while due diligence is completed and the details of the deal are agreed by all parties.
“Linder Myers continues to trade as usual and we have been encouraged by the continued support of key clients and business partners throughout.”
The firm which has offices in Manchester, Lancashire, Shropshire and Chester and employs 311 staff including 51 partners, filed an intention to go into administration on February 6, blaming tough trading conditions.
TheBusinessDesk.com understands that EY will be formally appointed administrator to the firm, which had a turnover of £18.7m for the year ending November 30 2013, and will then announce a pre-pack sale of the business and its assets.