A SCARBOROUGH law firm has been saved after financial talks came to a successful conclusion.
North Yorkshire Law, which is based in Albemarle Crescent, was facing an uncertain future after being declared insolvent due to outstanding debts.
But following crisis talks to save the business, the firm will now move forward and is looking towards a bright future.
A spokesman said: “North Yorkshire Law Solicitors is pleased to announce that, following successful financial rearrangements, business continues as normal.
“We wish to reassure all our clients, past, present and future, that we will continue with the high quality service we have always endeavoured to provide.
“Our management team has been reinforced to ensure success going forward and our Scarborough office will be moving a short distance across the road to our newly refurbished office at 50 Albemarle Crescent as from March 21.
“We continue business as usual at our Albemarle Chambers office until then.
“We would like to thank all our loyal clients and staff for their continued support and look forward to a future of working together.”
A member of staff, who contacted the Evening News shortly after hearing the outcome, said: “It’s a local firm from local roots and we’ve all remained very loyal to the company.
“We’re all ready to plough on now and ready to make the most of it.”
During the talks, the ﬁrm put forward a Partnership Voluntary Arrangement, as well as Individual Involuntary Arrangements from the partners, in which they offered to pay back so many pence in the pound on the money owed.