Seven jobs have been saved at a Preston law firm following its sale out of a pre-pack administration.
Jeremy Oddie and Julie Webster from Mitchell Charlesworth were appointed joint administrators on 23 December 2019.
Established in 2001, personal injury firm PHC Law was founded by Philip Cuerden who died unexpectedly in March 2019. Chris Wood and Craig Porter, both solicitors at PHC Law, became caretaker directors and have now purchased the business and renamed it Porter Wood Solicitors.
Jeremy Oddie, partner and head of the corporate recovery and insolvency team at Mitchell Charlesworth said: “Following extensive marketing, we were pleased to conclude the successful sale of the business to the caretaker directors, Chris Wood and Craig Porter. We would like to congratulate them on the purchase which secures a future for the firm in Lancashire and saves jobs in the region.”
Chris Wood, director at PHC Law said: “We are delighted to have bought the business, safeguarding the jobs of our loyal and dedicated employees and ensuring continuity for our clients. Having worked for PHC Law for over 15 years, we look forward to carrying on the ethos installed in the firm by Mr Cuerden, providing a dedicated, caring and professional service to our clients. We will continue to offer specialist advice to clients and represent their interests as Porter Wood Solicitors.”