A2O staff dismissals threatened potential sale

Simon Underwood, administrator at Benedict Mackenzie, reveals one of the main stumbling blocks to a deal was concern by potential purchasers regarding liabilities. This includes fears over potential employee claims following the administrator's dismissal of A2O staff. He also cited client confidentiality issues under the Data Protection Act as a further reason for the failed negotiations. Underwood is disappointed discussions had not concluded in a sale and confirmed the Winchester office will be closed down. "We haven't been able to secure a sale so we have given notice to adviser...