X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
climbing out of debt (Photo: Elnur, Shutterstock.com)

recent examination of major law firm failures showed how expansion and revenue gains can sometimes mask the struggles of law firms saddled by massive debt. Eventually, the debt load becomes too heavy, choking off growth and hastening collapse.

But industry watchers say law firms have become less reliant on bank debt over the past decade, as they explore other funding options. Often, that means raising capital from partners, or turning to other, less common sources.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

Lizzy McLellan

Lizzy McLellan is a senior editor on ALM's business of law desk. Contact her at [email protected] On Twitter: @LizzyMcLell

More from this author

Law Firms Mentioned

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

Maximizing Law Firm Profitability: Hiring, Training and Developing Productive LawyersBook

Maximizing Law Firm Profitability: Hiring, Training and Developing Productive Lawyers shows you how to manage your own practice and how to develop the potential of the pe...

Get More Information
 

You Can't Manage It If You Don't Measure It

How are you illustrating differentiation to clients and potential lateral targets? How are you measuring performance against peers? Use Legal Compass to benchmark a firm against its competitors, unearthing unique insights about performance, partner retention, market penetration and more. Click to log in, or begin your free trial.

Get More Information
 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.