Follett Stock close Exeter office ahead of winding-up petition
THE Exeter branch of a Truro law firm has closed its office just two weeks before it faces a winding-up petition issued by the taxman.
Follett Stock and FS Media Solutions in Threemilestone face a winding up petition issued by HM Revenue and Customs in the High Court.
The firm closed its Exeter branch earlier this week, according to The Lawyer website.
The closure comes ahead of the winding-up petition. If this is granted then the firm will face liquidation.
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The office phone lines are directing all calls to the Truro office.
The closure leaves the firm with three other offices based in London, Truro and Bristol. It is understood 26 employees have been axed from the company since 2009.
Follett Stock appeared in the High Court on September 30 to answer the winding-up petition and has the hearing adjourned until October 21.
Details surrounding the winding-up petition remain unclear but The Lawyer reports it is thought the firm has not paid VAT or income tax bills.
Follett Stock has refused to comment on the situation.