Lincoln accountancy practice saved from administration by rival firm.

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A prominent Lincoln accountancy practice  has been saved from administration after being bought by its rival.

Russell Payne & Co called in administrators on February 17th following a winding up petition presented to the Court by HMRC.However rival firm, Dexter & Sharpe, which has offices in Boston, Bourne, Horncastle, Louth, Sleaford and Spilsby stepped in and bought the company.

David Nicholson, Senior manager at Russell Payne’s Lincoln office,  said: “It has been a stressful time for all concerned but we are delighted to be working with a long-established firm like Dexter & Sharp.”