Consultancy law firm goes into administration
Andrew Hosking and Sean Bucknall, legal specialists at business advisory firm Quantuma, have been appointed as Joint Administrators of Cubism Limited.
Cubism was founded in 2006 and was granted an alternative business structure license by the SRA in March 2015. The firm was based in central London and employed 38 people.
The firm ran into financial difficulties due to challenging trading conditions and the departure of a series of key consultants.
Joint Administrator and Quantuma partner, Andrew Hosking, said: “The Joint Administrators have overseen the safe transfer of the business to a number of acquiring firms. I am pleased to confirm that all client matters have been transferred to the acquiring firms in accordance with the clients’ instructions.
“All clients’ interests continue to be protected with the appointment of Joint Solicitor Managers Samantha Palmer and Jo Creamer from Pinsent Masons.
“Trading conditions remain difficult in the mid-market legal sector, with ongoing market uncertainties. In the last year the firm’s creditors have risen sharply. This factor, coupled with the departures of a number of key consultants, has resulted in the firm being unable to continue to trade.”
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).