Midland law firms face failure if they don’t address key issues

LAW firms in the Midlands face financial problems if they fail to address key issues such as staff and salary levels, productivity and growth, a new report has suggested.

Grant Thornton’s benchmarking report concludes that while fee earners are generating more than they have over the past two years, firms could be heading for failure if they fail to take action.

The report analyses the published accounts of 24 firms either based in the Midlands or national firms with a significant presence locally.
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