Hammonds partners could be hit with a significant rent bill as Hammonds Direct, the firm's bulk conveyancing arm, enters into administration. Hammonds Direct sub-lets its Bradford offices from Hammonds, and if new tenants cannot be found, the national firm will be liable to pay the remaining rent on the lease. In total the outstanding rent is understood to be in the region of £4m, although the firm declined to comment. Hammonds warned partners about the impending collapse of the conveyancing business earlier this month. The administration could have a direct impact on individual partners as some, such as managing partner Peter Crossley and chief operating officer Sue Nickson, are shareholders in Hammonds Direct.
January 19, 2009 at 11:47 AM
1 minute read
The original version of this story was published on Legalweek
Hammonds partners could be hit with a significant rent bill as Hammonds Direct, the firm’s bulk conveyancing arm, enters into administration.
Hammonds Direct sub-lets its Bradford offices from Hammonds, and if new tenants cannot be found, the national firm will be liable to pay the remaining rent on the lease. In total the outstanding rent is understood to be in the region of £4m, although the firm declined to comment.
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