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dartboard Not every strategic move is the right one. (Ivor Strelar/Shutterstock.com)

Many of the most notable law firm collapses in recent years were large firms that staggered beneath the weight of mounting debt, foundering leadership and misaligned partnerships. But in the years since the Great Recession, they were joined by plenty of small and midsize firms that couldn’t stay afloat and eventually went under.

In the midst of an economic crisis that threatens even more devastation than the last, history offers lessons for midsize firms looking to stave off the fate of those that have gone out of business.

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Ben Seal

Ben Seal is managing editor of The American Lawyer. He joined the magazine in February 2018, and previously spent five years working for The Legal Intelligencer, editing the paper's magazines and supplements and reporting on Pennsylvania's state courts, legislature and Attorney General's Office. Contact him at [email protected] or @BSealTAL.

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