Lincoln accountants Russell Payne & Co enter administration

Russell Payne & Co, one of the largest accountancy practices in Lincoln, has gone into administration.

Patrick Ellward and Dilip Dattani of RSM Restructuring Advisory LLP were appointed joint administrators on February 16, 2017 following a winding up petition presented to the court by HMRC.

The company, which has a turnover of £1.1 million and 25 staff, continues to trade.

The Company Check website shows Russell Payne & Co has assets worth £195,100,  liabilities of £498,400 and a net worth of -£100,687.

The administrators are seeking offers by 5pm on Friday, February 24.

Interested parties can contact Nick Robinson on [email protected].