After a series of failed merger talks, the surprise takeover of beleaguered West End firm Davenport Lyons by Gordon Dadds is, according to Gordon Dadds’ managing partner Adrian Biles, indicative of the wider strain that firms will start to feel as the recovery kicks in.
The timing of the takeover was swift. Monday 28 April brought the announcement that Gordon Dadds had bought the client database, the lion’s share of assets and brought over the majority of Davenport’s partnership, in a pre-pack deal that took place before anyone outside of the two firms or Baker Tilly was aware that the firm had gone into administration on Friday 25 April.
