Begbies Traynor has confirmed plans to commit to a multi-year lease on Old Hall Street in Liverpool.
The firm said the commitment was a “symbol of support for the city”.
The insolvency firm said its rescue and recovery services are in demand as businesses across all sectors are facing challenges posed by the coronavirus pandemic.
It comes after Begbies Traynor revealed in its Red Flag Alert research more than 8,000 firms across Merseyside are in “significant financial distress”, which marks a 17 per cent increase from the same time last year.
Keith Tully, partner in the Liverpool office of Begbies Traynor, said: “This year has presented huge challenges to businesses in all sectors across our region and many business owners are facing acute financial distress and growing pressure.
“We have extended the lease on our premises at a time where many companies may be tempted to pull out because we believe it’s a practical measure to support our staff who want a blend of office life and home-working and also helps our clients and professional contacts.
“It’s also a visible symbol that confirms this is a great city to work and base your business."
Jason Greenhalgh, partner at Begbies Traynor in Liverpool, added: “We have already seen many businesses restructure their operations and finances and we expect to see more in the weeks and months ahead.
“Times are certainly challenging but company directors must tackle the issues they face and seek professional advice to explore all their options.”
