Administration for Swinburn and Jackson LLP
Shereen Ali, 10th February 2014
- “If Opportunity doesn’t Knock, Build a Door.” ~ Milton Berle
- How can a move to the cloud benefit conveyancers? (Topic of the Month - Technology)
- Value of remortgage lending up 19% from last month to top £4.4bn – the largest amount for a year
- Prime London house prices expected to stay flat until end of the year
- Rent rises cool off from August peak
- DCUK launches innovative case tracking system (Topic of the Month - Technology)
- Do you REALLY know who you are dealing with?
- Flood - protect or prepare
A long-established conveyancing firm has gone into administration after reported debts of more than £800,000.
After failing to find a buyer Gateshead-based Swinburne and Jackson LLP, which has been running for over 150 years, had to close all five of its regional offices and make 50 people redundant.
Administrators Gordon Goldie and Matthew Higgins from Tait Walker had to be called in on Monday.
Mr Goldie said: “It is a tragedy that a firm that has been going as long as this has to close. It is indicative of the state of the legal industry at the moment.”
Accounts filed with Companies House show Swinburne and Jackson owed £674,866 to creditors, and £125,365 in loans.
The Solicitor’s Regulation Authority is assisting the administrators in conducting a formal wind-down and clients are advised that their case files are being transferred to solicitors across the region, who will contact them in due course.