Half of the UK’s 20 largest law firms are carrying some degree of bank borrowing, limited liability partnership (LLP) accounts have revealed, as law firm debt comes increasingly into focus in the wake of the recent collapse of Cobbetts. Accounts filed with Companies House for the 2011-12 financial year show that 10 of the UK top 20 are carrying debts, with seven seeing their debt increase since the 2010-11 financial year: DLA Piper, Herbert Smith Freehills, Clyde & Co, Simmons & Simmons, Berwin Leighton Paisner, Irwin Mitchell and SJ Berwin.
February 14, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Accounts reveal debts as Cobbetts turns firms’ focus to finances
Half of the UK’s 20 largest law firms are carrying some degree of bank borrowing, limited liability partnership (LLP) accounts have revealed, as law firm debt comes increasingly into focus in the wake of the recent collapse of Cobbetts.
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