The solicitors firm Parrot and Coales in Aylesbury has said it is planning to close the firm which was founded in 1775.

The decision comes months after the collapse of the parent company Metamorph in December last year, leading to the closure of Browns Solicitors by the Solicitors Regulation Authority (SRA).

Managing partner at Parrot and Coales Richard Sauvain said: “We have tried to find a way to save the firm and preserve everyone’s jobs but we are unable to obtain appropriate insurance.

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“This is because insurers are concerned about the risk of exposure to Metamorph claims and not because of any problem with the firm.

“We are all very upset that the firm is having to close through no fault of any of the staff here.”

Now the firm is letting clients know and working to find an “appropriate closure date.”

“It is very important that we arrange closure in an orderly manner in order to protect client’s interests and ensure that their cases can be transferred to other solicitor’s firms,” he added.

The solicitors watchdog SRA decided to shut down a number of Metamorph Group law firms in December and January to “protect the interests of current and former clients.”

However, two Metamorph Group law firms Parrot and Coales and Beeton Edwards LLP were allowed to remain open following the collapse.

Beeton Edwards LLP ceased trading from May 5, the firm’s website now says.