Turnover halved at Scottish law firm before it collapsed

December, 22 2014

A report on the collapse of Tods Murray in October shows that its turnover was half its 2006 peak and that fixed costs on an office in Edinburgh Quay meant that it struggled to pay its bills.

Tods Murray was unable to afford its Edinburgh offices JoannaTkaczuk

Joint administrators Tom MacLennan and Iain Fraser have written the report, detailing how dozens of unsecured creditors - including taxi firms and caterers - have been left unpaid as the firm left behind £5m of unsettled debts. Most of the 140 staff went over to join Shepherd and Wedderburn which paid £595,000 for the work in progress. Source: The Scotsman