Blackpool solicitors Blackhurst Budd have changed status from a Limited Liability Partnership to a Limited Company. The new company now has five directors and more than 50 staff based at Edward Street.
Warren Spencer, Managing Director said:“The legal services market is undergoing a period of substantial change and the limited company structure gives us a greater flexibility to grow.
“We may consider becoming an alternative business structure in the future, which then opens up the business to external investment and allows our senior managers to have a stake in the company”.
The Legal Services Act 2007 resulted in a relaxation of the ownership restrictions on legal businesses and means that non-lawyers can, for the first time, invest in and own them. There are currently 152 Alternative Business Structures now licensed to provide legal services in England and Wales.
Blackhurst Budd Ltd has recently launched a fixed price divorce service with staged payments for clients, in addition to the existing fixed fee services for conveyancing, wills and probate.
Warren added: “We have offered fixed fees in most areas of the business for a number of years and have now extended this into our family department. This is particularly important in Blackpool as the town has been hit by the withdrawal of legal aid for most divorce cases.”