A south-west firm appears to have been brought back out of administration and acquired by new – as yet unnamed – owners.
A notice in the London Gazette today confirmed that administrators had been appointed to handle the affairs of Pardoes Solicitors, which has three offices in Somerset.
Begbies Traynor was tasked with handling the administration and was appointed on Tuesday.
But the firm is still trading and has been bought by South West Advocates Limited, a company incorporated in 2014 but which has been effectively dormant ever since.
In a statement posted on its LinkedIn profile, Pardoes said: ‘We are committed to providing the best service for our clients and are taking it to the next level. We have been acquired by a forward-thinking business that values its clients, staff and community.
‘By evolving, we continue to strive to provide a more efficient, effective and friendly approach in supporting you, your family and your business.’
Meanwhile, partner Bhavani Hogarty posted to announce she has been appointed as chief executive of the business. She had been head of dispute resolution and was previously with Hogan Lovells, Foot Anstey and Battens Solicitors.
Hogarty has been a director of South West Advocates since 2015. Her fellow director, Michael Miller, has been appointed as the new Pardoes chief operating officer and finance director.
Miller confirmed to the Gazette that all staff and clients had moved across to the new entity and he had worked with the SRA to ensure the transition was achieved ‘cleanly’.
The LLP is due to publish its annual accounts for 2021/22 at the end of this month, but is overdue publishing its confirmation statement. The last accounts, for the year ended 30 April 2021, show it employed 56 people and had net assets of £773,000. The firm owed £1.6m to creditors within a year and had £44 cash reserves.
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