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Law firm closes suddenly after falling into administration

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Business Live

West Country practice BLB Solicitors has ceased trading and all its staff have been made redundant

BLB Solicitors had offices across the South West including in Bath (pictured)

BLB Solicitors had offices across the South West including in Bath (pictured)(Image: Google Maps)

A West Country law firm has ceased trading after a deal to rescue the business collapsed. BLB Solicitors was founded more than a decade ago and had offices across Bath, Bristol, Swindon, Almondsbury, Trowbridge and Bradford-on-Avon.

It is understood the legal practice appointed administrators from The Insolvency Company, part of Sumer Group, at the end of April, but a deal to sell of the firm failed.

Before the company’s collapse, Business Live understands administrators worked with BLB’s leadership team to explore options to save the business and protect jobs. But despite an agreement in principle, the potential buyer withdrew and all staff were made redundant, the administrators said.

Joint administrator Gareth Buckley, head of insolvency at The Insolvency Company, said: “We worked hard to secure a sale of the business as a going concern, which would have preserved a significant number of jobs, and we had a deal in place.

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“It is deeply disappointing that it fell through at a late stage. Due to the timing and lack of available funding there was no alternative other than to cease trading and dismiss the workforce. Our immediate priority now is to ensure clients and creditors are kept informed and to support employees through the process of making claims to the Redundancy Payments Service.”

Business Live understands that because the administrators are not solicitors, under Solicitor Regulation Authority (SRA) rules it was not possible to trade the firm whilst seeking a new buyer. The firm has been shut permanently and will not be reopening, according to its website.

The administrators are now looking to sell BLB’s assets and have said they will “contact creditors in due course” with further information regarding the progress of the administration.

“The Insolvency Company is liaising closely with the SRA to ensure that the interests of the clients of the firm are safeguarded during this process,” the administrators said in a statement.

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“The joint administrators will continue to work closely with all stakeholders to support a smooth transition and deliver the best possible outcome for creditors, employees and clients of the firm.”

The SRA has appointed law firm Stephensons Solicitors LLP to collect files belonging to former BLB clients and keep them safe. Any enquiries regarding BLB should be directed to interventions@stephensons.co.uk.

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Aluminum Prices Could Reach $4,000 Amid Strait of Hormuz Bottleneck

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Aluminum Prices Could Reach $4,000 Amid Strait of Hormuz Bottleneck

Aluminum—used in everything from Ford F-150 trucks to soda cans—hasn’t risen in price as much as crude oil, liquefied natural gas or fertilizer since the Middle East conflict began.

Some industry experts warn aluminum’s rally is far from done.

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Bitcoin retreats to $73K, but ETF inflows and shrinking exchange reserves keep bulls hopeful

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Bitcoin retreats to $73K, but ETF inflows and shrinking exchange reserves keep bulls hopeful
Bitcoin retreated to the $73,000 mark, while the ETF inflows and shrinking exchange reserves supported broader market structure. The cryptocurrency was trading at $73,404 mark.

In the past 24 hours, Bitcoin and Ethereum were up 0.1% and 0.4% respectively. Among the major altcoins, BNB, XRP, Solana, Dogecoin, Hyperliquid and Cardano gained up to 6% whereas Tron went down nearly 2%.

Also Read | Smallcap valuations turn favourable as correction creates fresh opportunities: Bajaj Finserv AMC

Piyush Walke, Derivatives Research Analyst, Delta Exchange said institutional appetite for Bitcoin exposure appears to be cooling, with US-listed spot Bitcoin ETFs posting their longest run of net outflows since launch.

“After briefly touching $83,000 in May, Bitcoin failed to maintain momentum and quickly lost strength. The rejection created a bull trap, where buyers entered expecting a breakout only for the market to reverse sharply lower.”

Bitcoin turned bearish on the daily chart after losing the $74,800 support, validating a lower-high, lower-low structure and Ethereum is trading under pressure around $2,000 following the loss of support at $2,040–$2,050, Walke said.
The global crypto market capitalisation went up 0.09% to $2.48 trillion, according to CoinMarketCap.
In the past week, Bitcoin fell 1% and Ethereum was up 0.1%. Among the major altcoins, BNB, XRP, Solana, Dogecoin, Hyperliquid gained upto 20.11% whereas Tron and Cardano were down 5% and 1% respectively.
WazirX market’s desk said Bitcoin moved lower through the week, easing from around $77,004 to nearly $73,091, while holding the key $73,000 to $75,000 support zone. Although short-term technicals remained cautious, ETF inflows, long-term holder accumulation, and falling exchange reserves supported Bitcoin’s broader market structure.

Also Read | Nearing retirement and invested mostly in FDs? Expert shares diversification roadmap

It further said that Ethereum also faced pressure, slipping from around $2,096 to nearly $1,998. However, its long-term narrative was strengthened through scaling developments, clear signing, proposed native private transactions, and record-high staked ETH, reflecting confidence in Ethereum’s proof-of-stake ecosystem.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle.

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The Chip Rally Has Gone Parabolic. It’s Time to Separate the Pillars From the Pretenders.

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Nearing retirement and invested mostly in FDs? Expert shares diversification roadmap

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Nearing retirement and invested mostly in FDs? Expert shares diversification roadmap
As retirement approaches, many investors begin reviewing their financial plans to ensure their savings can generate enough income while also keeping pace with rising living costs. Fixed deposits have traditionally been a preferred investment option for conservative investors because they offer stability and capital protection. However, with inflation gradually eroding purchasing power, many pre-retirees wonder whether adding equity exposure to their portfolio can help improve long-term returns without taking excessive risk.

A similar query came from Jagruti who is nearing retirement and has mostly invested in fixed deposits and sought advice on whether it was too late to diversify beyond fixed deposits and include equities in her investment portfolio.

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Responding to the query, Harshvardhan Roongta said it is never too late to revisit an investment strategy. According to him, investors should not view their past decisions negatively because they were made based on the knowledge and information available at that time.

He explained that the real mistake is not a lack of awareness in the past, but failing to act after becoming aware of alternative investment options.

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Roongta noted that every investment product has its own advantages and limitations, which is precisely why diversification becomes important. Fixed deposits, for instance, are primarily capital-preservation tools. Investors who place money with a well-established bank are unlikely to face significant capital loss. However, fixed deposits often struggle to generate returns that comfortably outpace inflation, particularly after taxes.
On the other hand, equity investments can be volatile and do not offer any guarantee of capital protection. However, over longer periods, equities have historically delivered returns that have the potential to beat inflation and create real wealth.
According to Roongta, a well-diversified portfolio combines both growth-oriented and capital-preserving assets. While debt instruments such as fixed deposits help protect capital and provide stability, equities can offer growth potential that helps investors maintain purchasing power over the long term.
He emphasised that there is no universal formula for deciding how much equity an investor should hold. Two investors of the same age could have very different asset allocations depending on their financial goals, income sources, risk tolerance, and overall financial situation.

For example, one retiree may feel comfortable with 20% exposure to equities and 80% in debt-oriented investments, while another may choose the opposite allocation because of different financial needs and risk appetite.

Roongta said the ideal asset allocation should be determined after evaluating an investor’s objectives, future cash-flow requirements, and comfort with market volatility. The goal is to strike a balance between generating inflation-beating returns and maintaining a level of risk that the investor can comfortably handle.

Also Read | Should senior citizens continue investing in equity mutual funds after retirement? Expert explains

He also suggested consulting a SEBI-registered investment adviser to create a customised financial plan. Such advisers can help investors assess their risk profile and determine the appropriate allocation across equities, debt, gold, silver, and other asset classes.

According to Roongta, a professional review can help ensure that an investor’s portfolio remains aligned with retirement goals while also providing the diversification needed to navigate changing market conditions over the long term.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in along with your age, risk profile, and Twitter handle.

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