Insolvency specialists have been appointed at Manchester firm Almond Solicitors after the business went into administration.
Andrew Hosking and Sean Bucknall from Quantuma were appointed as joint administrators last Friday.
It is understood that the firm, which employed 11 people, has been sold in its entirety as a going concern to Manchester firm Aticus Law, thereby ensuring the protection of client interests.
The relocating team will specialise in niche personal injury claims and add an extra dimension to the full-service city centre firm.
Samantha Palmer, of national firm Ashfords LLP, who has been appointed as solicitor manager, said: ‘[We] are ensuring the safe transfer of client files and client monies so as to ensure that clients enjoy seamless excellent service with their new firms.’
Almond Solicitors was founded six years ago by Greg Almond, a specialist in claims arising from hair dye injuries. It received national recognition for its campaign to raise awareness of the dangers of home dye kits and won several cases on behalf of people who had suffered injuries from using hair products.
The firm worked in personal injury, employment law and conveyancing, and two years ago acquired neighbouring firm Hugh Joseph Solicitors in a move which was hailed as the start of a five-year expansion plan.
But constant reform of the personal injury sector is believed to have affected the business: in its six years alone fixed fees were more than halved, referral fees banned and the government set out plans to increase the small claims limit.
According to its most recently published accounts, as at 30 June 2016 the firm had assets of £668,000, which had increased by almost 40% in the previous year. These consisted of £582,000 tied up with debtors and £86,000 cash at the bank and in hand.
Amounts owed to creditors within one year had risen from £418,000 in 2015 to £586,000 in 2016.
Quantuma has gained a reputation for dealing with insolvencies in the legal profession, with Hosking and Bucknall appointed administrators to King & Wood Mallesons LLP in January this year and the firm handling the likes of Jeffrey Green Russell, Challinors Solicitors, Davenport Lyons and Prolegal Ltd.