UK national law firm Simpson Millar is making major redundancies following new investment from a private equity firm. After a consultation, 91 jobs will be made redundant including 20 feearners. The law firm had been acquired by a listed company, Fairpoint, in 2014 for £15 million. However, Fairpoint went into administration in August 2107. Simpson Millar said that underinvestment by Fairpoint left it with no choice but to put a redundancy plan in place. Simpson Millar has around 500 employees.

Investment

Following Fairpoint's administration, the firm's new investor Doorway Capital has pledged to provide financial support of at least £2m for 2018. This is in addition to the £5m receivables facility put in place earlier in 2017. Doorway has also stated its intention to support future growth plans from a sustainable cost base. Commenting, Mark Salem, director of Doorway Capital, said: 'As part of its necessary restructuring plan, it is our intention to provide Simpson Millar with the financial and strategic support needed to ensure it is best placed to grow and take advantage of future opportunities.'