Reports on bankruptcy filings and searches for bankruptcy attorneys have suggested work is picking up for the practice, but other reports say the wave of filings expected to crest over the past nearly two years has yet to hit. So what is a firm to do?

For Montgomery McCracken Walker & Rhoads, the idea was to gear up for bankruptcy filings in specific industries. The firm has added three bankruptcy attorneys in the last six months and the latest addition, Mark Desgrosseilliers from Skadden Arps Slate Meagher & Flom, was brought on in anticipation of increased bankruptcy filings in the retail industry.