# Marsden Rawsthorn LLP (OC327503)

> Why UK company OC327503 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/OC327503

- **Status:** Administration ended
- **Administration began:** 2013-02-20
- **Administrators:** Paul Andrew Flint, David James Costley-Wood
- **Administrators' firm:** KPMG
- **Incorporated:** 2007-04-13
- **Location:** Manchester

## Why it went into administration

- HMRC / tax arrears
- Creditor pressure / legal action
- Competition / price pressure
- Cash flow / liquidity pressure
- Sustained trading losses

## From the administrators' statement

The LLP operated as a solicitors firm and was formed in 2007 following the merger of Marsdens and Rawsthorns, offering a full range of corporate and personal legal services from two offices located in Preston and Chorley The fee earning structure of the LLP consisted ten partners and approximately 80 staff

The merger took place before the economic downturn and the LLP had since been suffering serious cash flow problems due to difficult trading conditions exacerbated in part by low interest earned on chent balances

The LLP alleges that the cash position was further compounded by debt servicing requirements in relation to debt financing received from the Bank This was in the form of a number of loans provided between 2007 and 2009 and since mid 2012, the LLP had been in dialogue with RBS regarding a solvent restructure of the LLP’s indebtedness

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/OC327503/filing-history/MzA3NzExNDU2OGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/OC327503

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.