Fyshe Horton Finney assets up for grabs
CORPORATE recovery firm Winterhill Largo is continuing to market the assets of failed stockbroker Fyshe Horton Finney.
It went into voluntary administration in March when the client list was sold to Leeds-based stockbroking firm Redmayne Bentley.
Winterhill Largo, hired by administrators Harrisons, is now talking to parties interested in the firm’s remaining assets, including its name and trading platform.
Established over a century ago, the firm is one of the oldest regional stockbrokers and operates in 15 offices across the country, including Birmingham, Hale, Leeds and London.
Despite cutting back costs in the last couple of years the company’s combined losses had reached £3.4m since 2009.
According to a statement from administrators, the investment firm was also plagued by boardroom rifts that had halted growth plans to develop the business.
Neil Duckworth, chief executive of Winterhill Largo, said: “Swift and decisive action is essential in the case of a special administration, to ensure that the firm’s clients do not lose out. We worked intensively with the joint special administrators and were able to agree the transfer of Fyshe Horton Finney’s client list to Redmayne Bentley within 48 hours of the administration taking effect.
“This ensured continuity for the firm’s clients without any potentially damaging and disruptive interruption to the financial services it provided.”
Redmayne Bentley has said it is business as usual for the Birmingham office, although the firm is looking for new city centre offices.