Wright Hassall sold for just £240,000 in pre-pack deal

The 179-year-old Warwickshire law firm Wright Hassall was sold to HCR Legal for just £240,009 as part of a pre-pack administration deal, new documents have revealed.

A report by administrators from Leonard Curtis set out how the firm had been “actively pursuing” a sale or merger for more than a year before its collapse.

It had engaged with 28 potential acquirers or partners, and “several” began due diligence, but no deal was forthcoming.

In October restructuring specialists Leonard Curtis began working with the firm, after being introduced by HCR Legal. Joph Young, Andrew Poxon and Hilary Pascoe from Leonard Curtis were appointed joint administrators and oversaw the pre-pack deal on November 14.

The firm’s secured creditor Lloyds Bank is owed £2.62m against an overdraft facility, CBILS loan and credit cards, and HMRC is owed£678,000. Unsecured creditors are owed £1.2m.

113 of the firm’s 129 staff members transferred over, with the remaining 16 employees taking voluntary redundancy.

The firm had 14 partners, although nearly half had joined the LLP since the pandemic. Profits taken as members’ remuneration had been £1.8m in the 2024 and 2025 financial years, although revenues fell 3%
to £17.1m.

“The recent departure of several Partners has further exacerbated the situation, adversely impacting both revenue and profitability,” the report said.

Senior partner Peter Lowe and head of corporate Stephen Halkett left the partnership in March, with Halkett joining Warwickshire rivals Lodders.

At the time of the administration, administrator Hilary Pascoe said: “We have seen an increase in law firm insolvencies over the last few months which demonstrates the issues being faced in the sector. Rising costs and difficulties with recruitment are just two of many areas of concern.”

Leamington Spa-based Wright Hassall’s roots date back to 1846 and it is exactly 150 years since Edward Wright and James Wright Hassall formed a partnership which was originally known as Wright and Hassall.

At its peak, in 2018, the firm had around 160 fee-earners and another 140 staff.

HCR now has more than 1,000 staff operating from 12 offices, with the addition of the new office operating under the name HCR Wright Hassall.

HCR, which used to be known as Harrison Clark Rickerbys, has more than doubled in size since the pandemic. It previously took over struggling East Anglian firm Hewitsons in 2021 and last year it acquired healthcare lawyers Ridouts.