The Lexis PSL Practice Management series has published an interview with our Business Risk Adviser, Nick Hood which looks at the deeply worrying state of law firm finances in the UK following research carried out by Opus Restructuring in January 2017. Lexis PSL: What were the most surprising findings in your research? NH: The norm for the whole of the
Legal Futures reports on research carried out by Opus Restructuring using data from the financial health monitoring specialists, Company Watch, which shows that 34% of all solicitors’ practices in the UK are at risk of failing because of their financial fragility. Opus analysed the accounts of over 6,000 law firms and found that some 2,000 were in the Warning Area on
Earlier this week of the UK arm of law firm, King & Wood Mallesons collapsed into Administration despite concerted efforts to find a rescuer. Now Opus has carried out research for City AM using the database and analytics of the financial health monitoring specialists, Company Watch to assess the state of the UK legal market. The legal sector is currently
LexisNexis RandI has published a review of the prospects and likely developments in the UK’s restructuring and insolvency markets in 2017, featuring the thoughts and predictions of a panel of experienced insolvency professionals. Comments by our Business Risk Advisor, Nick Hood include: “The Brexit vote is bound to have an impact, if only because of the uncertainty it has created. Litigators
Travel Weekly has reported on the financial crisis threatening the UK travel industry. This follows the recent collapse of the cruise company, All Leisure Group. Geopolitical risks, terrorism threats and the fall in the value of sterling are all likely to impact on bookings, as will the effect of inflation on travellers’ disposable income. Companies with too great a focus on
City AM travel reporter, Courtney Goldsmith writes that the UK travel sector is braced for thousands of insolvencies as the sector comes under increasing pressure from terrorism fears and rising costs. Currently there are just under 7,000 travel agents and tour operators in the UK and 1,800 or 26% have attracted the “warning rating” of Company Watch, a database that
