McClure Naismith creditors unlikely to get their money back

None of the creditors of failed law firm McClure Naismith are likely to receive the money they are owed, The Herald reports.

The firm collapsed in September 2015 with debts of about £1 million, including sums owed to the Faculty of Advocates, Millar & Bryce, Thomson Reuters and Caley Print & Stationery.

Its largest debts were owed to Santander (£179,000), RREEF Equitable House (£161,000) and BNP Paribas Real Estate (£81,000).

However, smaller businesses including the Abode hotel in Glasgow and refuse collectors Junk Me will also have to bear their losses.

Joint administrator Tom Maclennan of FRP Advisory said that it is “unlikely there will be a distribution to any class of creditor”.

More than 40 members of support staff were made redundant when the firm collapsed.