Midlands law firm Cartwright King has been sold as part of a pre-pack administration.
The business – which is a big provider of legal aid services and has 11 海角视频 offices – was placed into administration just before Christmas, partly as a result of financial issues caused by the backlog in the 海角视频 courts system.
Mark Thornton and Martha Thompson of restructuring specialist BDO LLP were brought in on December 23 and sold the business to AWH Acquisition Corp.
According to The Law Society Gazette, the business will continue to trade under the Cartwright King name and all 80 staff will transfer over to the new owners.
Mark Thornton said: “Unfortunately, difficult trading conditions alongside issues caused by Covid-19 and the continuing court backlogs resulted in cashflow issues for the firm from which it was unable to recover.
"We are pleased to have secured the business and assets sale of Cartwright King, a business which provides a vital service to the public, ensuring continuity of legal cases for clients and the preservation of employment for all staff.
“This is also the best outcome for creditors in the circumstances.”
Cartwright King has 11 offices in Bedford, Birmingham, Derby, Leeds, Leicester, London, Middlesbrough, Northampton, Manchester, Nottingham and Sheffield.
Most Read
AWH Acquisition Corp is based in Blackburn, Lancashire.
---