Riddled with Debt and Falling: The Crash of Traditional Law Firms

The devil is in the detail… Don’t get caught out by the traditional equity partnership model David Beech, CEO of Knights 1759, the UK’s fastest-growing regional professional services business, discusses the controversial topic of how and why so many traditional law firms are concealing debts and risking the livelihood of optimistic lawyers.    It’s no secret that these are challenging times for some of the UK law sector as it tries to keep up with emerging digital trends and increasing demand from clients. But there is buoyancy in the market and opportunities for those businesses that are agile and brave enough to challenge the status quo – the traditional equity partnership...
1 Comment
  1. John Roberts says

    This is precisely the scare mongering from so called experts that makes it so difficult for small firms to recruit.
    Somehow and in some miraculous but unexplained way conversion from LLP to corporate structure
    wafts away the need for capital and solves all cash flow .
    We are an LLP , we carry forward the lowest level of wip that R &C will permit, we
    finance out of partner capital, we have no debt to third parties , we have industry leading IT systems , and we are profitable .
    This article is uninformed inflammatory nonsense.

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