West country firm Follett Stock has closed its Exeter office two weeks before it faces a wind-up petition issued by HM Revenue and Customs in the High Court.
The firm opened its Exeter office in 2009 with partner Rebecca Gurgul leading the base. Gurgul left the firm last year to join F Haskins & Co in the Channel Islands.
The office has now closed and the firm is directing all calls to the Truro team.
The closure leaves the firm with three other offices based in London, Truro and Bristol, housing its 24 employees, down from 50 when the firm launched in Exeter.
The closure of the office comes as the firm fights against being wound up due to unpaid debts.
Follett Stock appeared in the High Court on 30 September to answer the wind-up petition and has the hearing adjourned until 21 Occtober 2013 (7 October 2013).
It is thought that the firm has not paid VAT or income tax bills, though the total outstanding debt remains unknown (26 September 2013).
Despite repeated requests for comment managing partner Christopher Lingard was unavailable for comment.