UK law firm Simpson Millar plans to to cut one in five of its workforce. The firm, which was acquired by a quoted company Fairpoint in 2014 for £15 million, is restructuring after its parent company went into administration in August. Management say that underinvestment by Fairpoint left it with no choice and it is consulting with staff over the proposed redundancies. A private equity company plans to invest £2million into the business next year. Simpson Millar has around 500 employees.