Law firm Marsden Rawsthorn sold in pre-pack

LANCASHIRE law firm Marsden Rawsthorn has gone through a pre-packaged administration.

Administrators from KPMG were appointed on February 20 and the firm was immediately bought by Marsden Rawsthorn Solicitors Ltd, a new company led by the former partner group.

There have been no job losses at the firm’s two offices in Preston and Chorley which employ 80 staff.

In a statement chief executive Debbie Pettitt, pictured, said: “The restructure provides excellent opportunity for growth and is in line with our strategic development plans. Operations are unaffected and we continue to provide our clients with the same outstanding service as before.”

Latest filed accounts for the year to the end of April 2011 show revenue was static at £4.2m but profit before members’ remuneration was up to £1m from £765,534. Net debt stood at £4.7m.

The firm specialises in family law, personal injury, wills, probate and residential conveyancing. Just last month it joined forces with Carnforth-based financial adviser Torquil Clark to launch a wealth management service.