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An analysis has laid bare the precarious cash position at many firms following an auditor report on the UK's top 50 law firm accounts.
May 04, 2020 at 08:36 AM
1 minute read
Editor-In-Chief
Several top U.K. firms are operating with high levels of debt and little to no cash on their balance sheet putting them in a perilous position for the months ahead, according to an analysis by accountancy firm Smith & Williamson.
The preliminary figures, which will form part of the auditor’s report with Legal Week on the state of the top 50 U.K. LLP accounts, show almost half had less than £10 million of cash on their balance sheet as of April 2019.
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