UK firm Semple Fraser to go into administration
Semple Fraser is set to go into administration, with more than 100 staff to lose their jobs. The firm’s leaders were in merger negotiations with a number of other firms, but ultimately decided that administration was the only available option.
Semple Fraser, founded in 1993, has offices in Edinburgh, Glasgow and Manchester and has 20 partners and around 100 staff. The firm flourished during the property boom and maintained a decent workflow as companies dealt with the legal implications of the crash. But since then things have taken a turn for the worse.
The company released a statement saying: “The firm has been severely affected by the downturn in the economy and the dramatic contraction in parts of the corporate, property and construction sectors in particular. Following an exhaustive review of the business, the Partners have decided that the business is no longer sustainable.”