Blakemores, James Pearce & Co. and (in January) Cobbetts. There is a hole in the Birmingham legal sector.
Blakemores is a firm that embraced our Brave New Legal World, setting up Lawyers2You, setting up stall in shopping centres around the region and operating their own call centre. I have always wondered how effective the stalls were – the ones I passed regularly did not seem swamped by potential clients.
From the outside, this looks like a cash flow issue. Presumably the £5 million they invested, however structured, has not been matched by the cash coming in. This shows that there are business risks in changing, if the change does not work. And if it was easy to predict that an action would not work, nobody would take it in the first place. Whether a law firm should try to run a call centre is another issue.
Make sure you understand how your business works!
The other point is to query whether a full scale intervention by the SRA is necessary in an administration. If the issue is only cash flow, might client interests be better served by an administrator who can protect their interests? That way, there could be an orderly hand over of files to other firms, and, of course, some matters could be completed.