Slater and Gordon reports decline in revenues
Slater and Gordon has reported losses that are said to be the result of the firm’s previous owners. The the 2016/17 financial year, the firm’s revenues declined by 26.9 per cent, coming in at £231.5m. Total losses for the financial year were more than £52m.
Following the end of the reporting period, Slater and Gordon transferred ownership to a group of hedge fund overseen by Anchorage Capital. The firm was able to write off £386m of secured debts during the transfer of ownership.