Partners predict further law firm failures as recent collapses shake confidence

The vast majority of partners believe it is likely that more large law firms will collapse over the next two years, according to new Legal Week research. In the wake of Cobbetts' recent rescue takeover by DWF and Dewey & LeBoeuf's implosion last year, the latest Big Question survey found 95% of respondents acknowledging the possibility that more large corporate law firms would fail in the near term, including 32% who believed another collapse in the next two years was 'likely' and a further 42% describing such an event as 'very likely'.

The vast majority of partners believe it is likely that more large law firms will collapse over the next two years, according to new Legal Week research.

In the wake of Cobbetts’ recent rescue takeover by DWF and Dewey & LeBoeuf’s implosion last year, the latest Big Question survey found 95% of respondents acknowledging the possibility that more large corporate law firms would fail in the near term, including 32% who believed another collapse in the next two years was ‘likely’ and a further 42% describing such an event as ‘very likely’.

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