- 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?
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.
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