One of Sheffield’s oldest and best known insolvency firms is moving headquarters after selling a department employing more than a third of staff.
P&A is set to vacate offices on Queen and Paradise streets in the heart of the city’s historic business district and move all 45 staff into Kendal House on Scotland Street.
Kendal House was home to the firm’s commercial debt recovery department, P&A Receivables, and a firm of solicitors, James Peters & Co.
They were snapped up by Sheffield law firm Irwin Mitchell and all 30 staff were moved to its headquarters at nearby Millsands.
The remaining P&A workers will move into Kendal House by the beginning of August, following refurbishment.
Managing director Jeremy Priestley said it was a “new era.”
He added: “These are exciting times for P&A, and this is exactly the right time for the move to take place.
“The new premises will allow us to work together in modern, open plan environment representing the progressive, forward thinking firm we are today.”
P&A Receivables was bought by Irwin Mitchell’s fast-growing subsidiary, Ascent.
It was the fifth acquisition by Ascent and the seventh overall by the Irwin Mitchell Group since being awarded its Alternative Business Structure licences in 2012.
Andrew Tucker, Irwin Mitchell’s group chief executive, said: “This is another important acquisition for the Group and a sign of our continued ambition to expand across the UK.
“It brings a solid portfolio of long-standing clients and we are confident it will be a valuable addition to our debt services business which again will further strengthen our position in this important market for us.
“We are in a strong position in the legal market and we are committed to ensuring that we build on this.”
The P&A deal follows IM’s acquisition of HL Interactive and Berkeley Law in 2014, when it also opened offices in Middlesbrough, Southampton and Cambridge.