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Struggling Law Firms May Face Dissolution Risk in Recession

Sept. 3, 2019, 11:28 AM

Major law firms have shut their doors in the last decade since the Great Recession, and more could dissolve if a predicted economic downturn happens in the coming months.

Trouble Ahead: A recession in the past has served as an aggravating factor for law firm dissolution, but it’s rarely the only factor, experts say.

No One Immune: Law firms should still be careful, according to Jeffrey Lowe of Major, Lindsey & Africa. “The lesson to take away is no matter how old you are, no matter how revered you are or how long you’ve been around, you can’t count on ...

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