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Mesirow Financial Closing Bankruptcy Consulting Firm

Mesirow Financial Closing Bankruptcy Consulting Firm

Mesirow Financial will shut down its bankruptcy consulting arm by the end of the year after being unable to find a buyer. Mesirow bought the bankruptcy consulting business from KPMG in 2004 hoping to steer existing clients to use its services while entering or exiting bankruptcy. Mesirow CEO Richard Price said that never happened and the need to keep the bankruptcy unit separate from the company's other interests wasn't worth the hassle, according to Crain's. The 50 employees who are part of the unit will be let go but allowed to retain their clients and assignments. [Crain's]