MCR takeover for Duff & Phelps

A US investment bank has bought MCR, the UK corporate restructuring specialist, to expand its strategic presence in Europe.

Duff & Phelps, which is listed in New York, did not say how much it paid for MCR, but the company delivered revenues of £21m for the year to 30 June.

MCR has been involved in high-profile retail administrations in recent years, including Borders UK, MFI and Ethel Austin. But its restructuring work has spanned sectors from property to manufacturing.

MCR employs 150 staff, including 19 partners. Noah Gottdiener, the chief executive at Duff & Phelps, said MRC would bring "impressive scale" to its European expansion.