Preston firm rescued through pre-pack administration

Seven jobs at Preston-based PHC Law have been saved by a pre-pack administration following the unexpected death of founding partner Philip Cuerden in March last year.

Solicitors at the firm since 2004, Chris Wood and Craig Porter embarked on the purchase via a pre-pack administration on 23 December. The firm had become caretakers of the firm on Cuerden’s death.

Cuerden established the personal injury firm in 2001. Following his death intestate last year there was period of financial restructuring, after which Wood and Porter sought advice from their administrators. They have since renamed the firm renamed the firm Porter Wood Solicitors.

Wood 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.”

Mitchell Charlesworth partner and head of the corporate recovery and insolvency team Jeremy Oddie, and Julie Webster, were appointed joint administrators on December 23.

Oddie said: “We would like to congratulate them on the purchase which secures a future for the firm in Lancashire and saves jobs in the region.”