Steele Ford & Newton Limited (07971691): administration
- Status
- Administration ended
- Administration began
- 2015-06-18
- Administrators
- Andrew Poxon, Julien Robert Irving
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2012-03-01
- Location
- Manchester
- Industry
- 69102 Solicitors
Why it went into administration
- Competition / price pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 1 March 2012 however prior to incorporation had traded as a partnership In August 2012 the Company merged with another firm of solicitors called JGT Solicitors
The Company recently traded from offices in Burnley and Nelson in Lancashire The Company also had an office in Bacup until April 2015 The principal trading activity of the Company was that of a solicitors practice specialising in cnminal law, family aw, employment law, conveyancing, wills & probate and personal injury & medical negligence claims
In the financial year 2014/15, the cnme department was underperforming due to a high level of competition in the market coupled with a fall in the quality of work available, legal aid cuts, the number of police arrests in the local area being significantly down and also being too heavily staffed It was considered to be running inefficiently with fee income below budget The employment department was also loss making and following the resignation of the head of department, the work was transferred into the civil and personal injury department The conveyancing, wills & probates departments were running at a small loss or just breaking even respectively The only profitable departments were family law and personal injury, which were supporting the other departments
Administrators' statement of proposals (2015-08-04) · Companies House register