Burnley based solicitor’s closes suddenly
The Lancashire Telegraph has reported that SFN, based in Red Lion Street, has informed its customers that it has ceased to practise.
According to Land Registry figures the firm completed five purchase transactions in July.
A spokesman for the Solicitors’ Regulation Authority (SRA) said it had been notified by SFN that it was closing, and it was on an “orderly wind down.”
The SRA said it was now working with SFN to help its customers find alternative solicitors.
It is believed SFN solicitor Ian Dearing sent a letter to customers telling them that they were closing on October 16.
As well as a notice on the door, customers phoning now hear a voicemail confirming the closure.
John McNabb, partner at the firm, told the Lancashire Telegraph that: “It was with enormous regret that a decision had to be taken in the last few days to close down the business of this partnership practice.
“Of the three partners, one had been away from the office for some time with ill health. The managing partner of the business then suffered a stroke and had to be hospitalised."
He added: “At this stage an urgent review had to be carried out. There were further difficulties with this position in that the vital professional indemnity insurance premium escalated to an unacceptable level.
“At this point there was no alternative but to close the office. Immediately upon closure both the regulatory authorities and the local Law Society were contacted.”