Debt levels at the top UK firms by revenue have increased to £185m compared to £138m last year.
Data taken from top UK firms’ annual LLP filings at Companies House reveals that Simmons & Simmons, Addleshaw Goddard, Bird & Bird and Herbert Smith are the most indebted of the leading firms.
Herbert Smith saw its debt level rise by £17m to just over £41m worth of net debt in 2010/11. It increased its overdraft facility by £11m to £18.6m with part of the new loan going to fund the fit out of the firm’s new Belfast office. The firm saw its turnover rise by 3% last year to £465.1m.