The number of law firm insolvencies is expected to increase after nearly doubling to 39 in 2018, as tightening margins, succession issues and more difficult access to funding put pressure on high street firms.
Statistics from the Insolvency Service show the number of solicitor firm insolvencies was up 70% in 2018, from 23 in 2017. The previous high was 34 in 2014, while as recently as 2010 there were no recorded law firm insolvencies.
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