Slater and Gordon to break from its UK arm

Australia-based law firm Slater and Gordon has announced it will part ways with its UK arm. The firm, which has its headquarters in Melbourne, said that the break would “enable both the Australian and UK operations to succeed in their own right”. Slater and Gordon handed control of its UK business to its senior lenders.  

The personal injury firm has suffered financially across its UK and Australian offices; the most recent pitfall came on 1st September, when it announced losses within the region of $546.8 million.

Slater and Gordon entered the UK market in 2012 with the acquisition of Russell Jones & Walker, and was notable for being the first law firm to float on the Stock Exchange in 2007. It later acquired several other UK firms, and eventually gained a 14% share of the personal injury and clinical negligance market.  

However, a spate of significant financial losses led to underperformance of the UK firm, leaving many shareholders unhappy. 

Following the break, Slater and Gordon will continue to be listed on the ASX, but existing shareholders will give up any interest in Slater and Gordon UK.

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