Halliwells signs Barlows deal but could face administration
FALLEN Manchester law firm Halliwells will learn tomorrow whether it will be forced into administration as it remained in deadlock discussions over the weekend with a number of rivals to sell off parts of its business.
The firm has already struck a deal with City insurance practice Barlow Lyde & Gilbert, which has agreed to buy up Halliwells’ insurance practice.
Partners at Barlows voted late last week in support of the move that will see more than 200 staff transferred to its business alongside clients such as AXA and Chartis.
The deal is one of many that Halliwells is looking to secure in a bid to avoid going into administration.
The stricken firm, which filed for a second notice of intent to appoint an administrator at the end of June, is also in talks with Hill Dickinson and HBJ Gateley Wareing.
A deadline of tomorrow has been set to secure the deals before the administrator will step in. However, the deals are expected to be finalised by tomorrow and could save hundreds of jobs.
Halliwells, which is one of the largest legal practices to face administration, suffered from a fall off of transactional work during the recession.
Both firms declined to comment.