Davenport Lyons goes into administration

The 42 partner firm, which is a member of international network Globalaw, ceased trading and the majority of the company’s client balances, work in progress  and client files have been transferred to Gordon Dadds. Gordon Dadds will also be collecting debtor balances on behalf of the administrator. Out of 115 total staff, around 80 will transfer to the new firm, including 30 partners. The firm had earlier engaged in failed merger talks with HowardKennedyFsi and Shakespeares and had denied it was in financial difficulty despite revenues falling from £24.5 mi to £21.9 m in 2012/13 and profit per equity partner dropping 12.5 percent to £197,000.