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How can a 150 year old Law firm disappear?

3/4/2019

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The Scottish legal firm, Morisons LLP went into administration on 29th March 2019 leading to gasps of air from commentators.

Morisons can trace their roots back to the 1860's and I need to declare an interest...I uses to work there.


It begs the question;  How can a firm like that simply disappear, cease no more, go bust?

The answer lies in the simple phrase; market forces.

The source of the demise could probably be traced back to the Clementi Report and the changes in the way law firms of the future were allowed to operate.

This gave law firms new powers but it effectively brought them into the 21st Century.

Sadly, Morisons chose to stay stuck in the past.

It was a mid-tier firm with no direction.

Had it embraced value pricing, looked after customers, embraced technology, embraced social media (I set up their first Twitter account in 2009! Seldom used since then!!) and booted out some snakes in their domestic grass, then they might have stood a chance.

They failed to react when other firms around them moved on, brought in external expertise and stole their lunch and they paid the price.

The fact that their name was constantly confused with the supermarket group didn't help either.  But then again, they had numerous opportunities to change it with all the mergers they did.

Instead, they made a right Plum-Duff of things!





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Morisons LLP in Administration

3/4/2019

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Scottish law firm Morisons LLP, which has offices in Glasgow and Edinburgh and some 90 partners and staff,  entered administration on the 29th March 2019.

Some of the firm’s assets have been bought by rival firms Thorntons and Blackadders but several posts are likely to go it was confirmed over the weekend.

Tom MacLennan and Iain Fraser, partners with FRP Advisory, have been appointed joint administrators of Morisons, which can trace its roots back to the 1860s. Prior to the administration the firm had 16 partners and employed 74 people across its two offices.

The deals, which are for an undisclosed sum, see eight Morisons partners and 41 staff transferring to Thorntons, and three partners and 30 staff transferring to Blackadders. A further three partners are moving to Gilson Gray in Edinburgh, Weightmans in Glasgow and one undisclosed firm where negotiations are ongoing.

There are no immediate redundancies. However, Thorntons and Blackadders will next week begin a redundancy consultation period with some former Morisons staff while simultaneously undertaking a review of their “staff structures and requirements”. It is hoped that some 45 staff positions will be saved as a result of the rescue deals.

MacLennan said: “We are pleased that Thorntons and Blackadders have agreed deals to acquire certain assets, goodwill and work-in-progress of Morisons, thus ensuring continuity of client service, preserving employment and safeguarding client service. We wish the newly enlarged businesses every success.”

​Craig Nicol, managing partner of Thorntons, said: “Morisons was a long-standing, highly respected firm with a high profile in the Central Belt, and this acquisition will further strengthen our position in the Edinburgh market. “Our priority will be to provide a seamless transition for clients to ensure they continue to receive an excellent service, and to integrate those partners and employees moving across into our Edinburgh team.” Johnston Clark, managing partner of Blackadders, added: “This acquisition underpins Blackadders’ investment in our people and our business and will position us for continued, strategic growth.”

​Lorna Jack, chief executive of the Law Society of Scotland, said: “We are very sad to hear that Morisons has gone into administration. It represents the loss of a highly regarded Scottish law firm operating in Glasgow and Edinburgh. “We are confident that arrangements are being put in place to ensure that there is as little disruption as possible for the firm’s clients.


Read more at: https://www.scotsman.com/business/companies/update-law-society-reacts-to-collapse-of-scots-legal-firm-morisons-1-4898568
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    After many years paying lawyers,I became one in 2005 Just in time for the largest upheaval in the law since records began. Brilliant. Exiting times ahead.

    Disclaimer.  The thoughts, ideas and comments on this Blawg ("Blawg - a legal Blog) are my own and not to be confused (unless otherwise stated) with anyone else and certainly not of anyone in the Firm where I used to work and they are not the views of the firm where I used to work.

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