Administrators at corporate recovery firm Quantuma have been appointed at a Liverpool law firm.
Sean Bucknall and Andrew Hosking were appointed as joint administrators to Gregsons Solicitors Ltd on Wednesday 23 August.
The firm was founded in May 2011 and at its peak had a turnover of £1.3 million and employed approximately 30 staff. It has offices in Crosby, Birkenhead and Flint.
Quantuma director Sean Bucknall said: “Regrettably, the Firm has had to be placed into administration and in this instance it has not been possible to secure a sale of the entire business as a going concern to a successor practice.
“All of the firm’s live matters were sold to a number of separate firms of solicitors prior to the company entering administration. The terms of the sales facilitate the ongoing servicing of client interests and for all realised work in progress to be paid into the administration, thereby maximising the return to creditors.”
“A Company Voluntary Arrangement had been proposed by the directors but this was rejected by the requisite majority of creditors.”
Following the appointment of Quantuma, the administrators completed the sale of the conveyancing department and its work in progress to Metamorph Law LLP.
Notes to Editors
Quantuma LLP is a leading corporate restructuring, insolvency and business advisory firm delivering partner-led solutions to businesses and individuals facing financial distress with offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol and Manchester.