The board of London Stock Exchange-listed law firm The Ince Group announced today (12 April) that it has no choice but to place the company into administration, after a major creditor withdrew support for the business. Shares in the company have been suspended since 3 January 2023, following a request by new auditor BDO for more time resolve outstanding issues with the accounts, meaning they could not be filed on time. That followed a slump in the 150-year old firm’s share price following a cyber attack in March last year.
In a statement to the London Stock Exchange, The Ince Group said: “Accordingly, the directors of the Company and each of Ince Consulting Holdings Limited and Ince Gordon Dadds Services Limited and the members of Ince Gordon Dadds Holdings LLP and Ince Gordon Dadds LLP have resolved today to file documents with the Court to appoint Quantuma as administrator, in the expectation that Quantuma will implement a sale of the Group’s business to a third party purchaser as soon as possible.”
You can read the statement in full here: https://www.londonstockexchange.com/news-article/INCE/intention-to-appoint-administrator/15913480