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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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Paul Hodkinson

Paul Hodkinson is the Editor-In-Chief of Law.com International and Legal Week. Before joining the company in late 2018, he was the Deputy Editor and Comment Editor of Financial News, part of Dow Jones. He has also held roles as Acting Editor of Financial News and Editor of Private Equity News and has written for The Wall Street Journal as well as numerous private equity publications in the U.S. It is his second stint at Legal Week, after he worked at the publication between 2002 and 2008. [email protected]

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