Legal News

Analysing the risk of insolvency for law firms

Published on: 31 January 2017
Published by: LexisPSL
  • Analysing the risk of insolvency for law firms
  • What were the most surprising findings in your research?
  • What do you think are the main causes for this?
  • What can firms do to ensure a secure and successful future for themselves? If a firm finds itself among those performing poorly financially, what steps should immediately be taken and what long-term plans should they think about?
  • Is there something the most successful firms are doing that others are missing out on?
  • Are you able to identify any trends in this area?
  • Are there any other important points worth mentioning?

Article summary

Practice Management analysis: Nick Hood, Opus Restructuring business risk adviser, examines the financial issues facing UK law firms following his publication of research showing that a third of solicitors’ practices are at serious risk of insolvency and 500 or more of them may fail over the next three years. or take a trial to read the full analysis.

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