Around 50 legal jobs are expected to be axed after the takeover of a major law firm which was facing administration.
Tods Murray LLP was bought out by rival firm Shepherd and Wedderburn after the appointment of administrators.
The firm, which has operated in Scotland for more than 150 years, said it had struggled to meet "fixed costs" - understood to be the high costs of its office in Edinburgh's Fountainbridge. More than a third of staff are now expected to be made redundant.
A consultation period for Tods Murray's 138 employees will begin on Monday before the remaining workers are transferred to Shepherd and Wedderburn's existing offices.
Joint administrators Tom MacLennan and Iain Fraser of FRP Advisory, said the deal - for an undisclosed sum - offers the chance for the remaining staff at the firm, which has an office in Glasgow, to continue operating from a stronger position.
Mr MacLennan said: "Tods Murray had exhausted every option to turn the business around, and was faced with an unsustainable gap between high fixed costs and income. Administration was the only alternative … but we are delighted that Shepherd and Wedderburn has acquired the Tods Murray business, and will provide the partners and staff with a stronger platform from which to service their clients."
Stephen Gibb, chief executive of Shepherd and Wedderburn, said the acquisition was an "excellent business opportunity".
David Dunsire, executive partner of Tods Murray said: "We are grateful for the support of our clients over the years and look forward to working with our new colleagues at Shepherd and Wedderburn."
Tods Murray, whose clients included Barclays, Lloyds Banking Group and Santander, specialised in corporate, commercial and private legal advice, as well as property services.
It was recognised as a UK top 100 law firm and in 2012 became the first solely Scotland-based firm to achieve Lexcel, a prestigious international quality mark.
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