Solicitors’ watchdog shuts down four Metamorph owned firms
The UK’s legal watchdog has forcibly closed four law firms owned by national conglomerate Metamorph following reports of directors resigning and staff being left unpaid.
The Solicitors Regulation Authority (SRA) also seized cash and documents from the law firm, which was set up by British entrepreneur Simon Goldhill in 2016 with the aim of “revolutionising legal services”.
Metamorph operates under the SRA’s Alternative Business Structure (ABS) model, which was created by the regulator in 2007 to let non-lawyers run UK law firms.
The national firm had intended to grow its business by acquiring high street law firms across the UK, through deals that saw it build a network of 15 offices and 650 staff.
In September, it was revealed Metamorph’s chief executive Tony Stockdale would stepping down from his position after the law firm failed to pay staff for two months in a row.
The UK’s legal watchdog has now forcibly closed four of Metamorph’s firms, including three in the Greater Manchester suburb of Sale and one in the West Yorkshire city of Wakefield.
The SRA said it has decided to intervene to “protect the interest of clients (or former or potential clients) of the firms.”
Metamorph has failed to submit its accounts information to UK registry Companies House, the law firm’s filings show.
Metamorph was approached by City PM for comment.