Norwich-based Parker Andrews is growing fast

A fast-growing young Norwich insolvency practice is set to move its expanding workforce into bigger premises.

Since the practice was set up by Jamie Playford and Antony Antorkas 18 months ago in King Street, it has worked with about 200 clients of which about 75pc are corporate.

Mr Playford said: 'It is growing still and going well. It has been very busy. It is not a great sign for the economy.'

'We only planned to have a couple of staff by the end of the first year, but because of the work coming in from various sources we had seven staff at the end of the first year.

'We are now up to 11. The firm has another four people starting at the beginning of July.

'We have taken a more proactive approach and most of our work comes from accountants,' he said.

'Insolvency does have a stigma. It is a very expensive process, but it shouldn't be if it doesn't have to be,' he said.

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'No one likes an Insolvency Practioner coming in and taking the assets. If I think the job is going to justify �15,000, I'll cap my fees at that.

'Certain to conditions as long as everything pans out as it is. I am happy to stick with my estimate.'

He also said that they tried to keep their clients trading where possible, where there was a good underlying business.

Parker Andrews will be moving into new premises in Queen Street.