Parabis to be sold 'after going into administration'
Parabis law firm will be sold next week after it was put into administration, according to reports.
The business will be split into smaller parts before being sold off as part of a pre-pack administration process, Sky News reported.
"All but a handful" of the 2,000 positions would scrapped, a source said.
The process will be managed by advisory firm AlixPartners, the insider added.
The company's founder, Andrew McDougall, is said to have created a new operation that will snap up the largest of Parabis's units, Plexis Law.
Buyers for the other operations are also believed to have been agreed.
The disposals are expected to have raised slightly in excess of £50m, £20m less than the firm's debt.