A Preston solicitors practice has been bought out by its management company.
As part of a restructuring deal Marsden Rawsthorn LLP were bought by a new company, Marsden Rawsthorn Solicitors Ltd through appointed administrators KPMG.
Chief executive Debbie Pettitt said that there would be no job losses at the firm following the takeover.
She added: “The restructure provides excellent opportunity for growth and is in line with our strategic development plans.
“Operations are unaffected and we continue to provide our clients with the same outstanding service as before.
“We are in the process of contacting all our clients to notify them of the change and other exciting developments within the firm.”
Paul Ridehalgh, Richard Ainsworth, Sahida Ahmed, Charles Maher, Eric Gardner and Karl Wilson were all appointed as directors of the new company.
KPMG confirmed that all 80 jobs at the firm had been secured with the restructuring.
Last year the law firm made sales of £4.2m and pre-tax profit of £1.1m.