Thorntons snap up Pagan Osborne after administration.

TAKEOVER: 60 Pagan Osborne staff face losing their jobs after company sold

Tayside firm Thorntons snapped up solicitors and estate agents Pagan Osborne after the Fife company went into administration.

FRP Advisory was appointed administrators of Pagan Osborne on Friday but Thorntons swooped in to buy the company for an undisclosed sum the same day.

All 10 Pagan Osborne partners and 113 staff will transfer to Thorntons but around 60 face losing their jobs.

While Pagan Osborne’s Anstruther office will be rebranded as Thorntons, its premises in Cupar, St Andrews and Edinburgh will close.

All staff working in those offices have been told they are at risk of redundancy, with the 45-day redundancy consultation period due to start next week.

Craig Nicol, joint managing partner of Thorntons, said: “Pagan Osborne was a long-standing, highly-respected firm with a high profile in Fife and Edinburgh.

“Our priority will be to provide a seamless transition for clients and to preserve the maximum number of jobs.

“We will be in contact with all Pagan Osborne clients imminently and I would seek to reassure them that they will receive continuity of service from the newly-enlarged Thorntons team for their legal or property matters in the coming days and weeks.”

Lorna Jack, chief executive of the Law Society of Scotland, said: “We are very sad to hear that Pagan Osborne has gone into administration.

“It represents the loss of a longestablished and highly-regarded Scottish law firm operating across Fife and Edinburgh.

“There is to be a full transfer of business to Thorntons and we are confident that arrangements are being put in place to ensure that there is as little disruption as possible for Pagan Osborne’s clients.

“We understand that most of Pagan Osborne’s staff, including all trainee solicitors, will transfer to Thorntons but there are to be redundancies following a consultation period.”

He continued: “There has been ongoing, significant change within the legal services sector which, combined with a challenging economic environment, continues to have an impact on law firms.

“We will work with both firms to help ensure a smooth transfer of and provide advice and support for our members.

“Pagan Osborne clients should continue to contact their solicitor about any ongoing business or transactions.”

Picture: Rick Booth. Thorntons moved quickly to purchase Pagan Osborne.

Thornton’s joint managing partner Craig Nicol has sought to reassure Pagan Osborne clients.