As law firms look ahead to 2026, the legal sector’s outlook is one of continued opportunity — but the abrupt closure of a firm in the first week of the new year is a stark reminder that some instability in the market remains.
McGlinchey Stafford — a Louisiana-based firm on the NLJ 500 with 18 offices spread across the Southeast and Northeast — announced last night that it would be closing its doors, apparently to the surprise of the bulk of its employees. As noted by the American Lawyer, the 150-lawyer firm’s equity partners voted on Monday to wind down. Sources tell Above the Law that staff at the firm “had no warning,” and that the news was a “huge mess” for those who were “kept in the dark.”
Michael Ferachi, the firm’s managing member, offered the following statement in a press release concerning the wind-down:
“As we begin McGlinchey’s 52nd year of operation, my colleagues and I are saddened to announce its final chapter. McGlinchey’s attorneys and legal professionals have focused for 51 years on solving our clients’ legal problems, and that will remain our focus as we wind down our business. …
There was no single triggering event or one definitive action that brought us to this point. This is not because of any specific attorney’s departure, or any individual financial decision or leadership action that led us to this point. This is the result of a combination of market factors, such as lagging collections, compounded with various internal factors over several years.”
We wish the lawyers and legal professionals at McGlinchey Stafford the best of luck as they seek new opportunities in the legal industry and beyond.
If your firm or organization is closing its doors or reducing the ranks of its lawyers or staff, whether through open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive — we’ll never ignore you. You can email us or text us (646-820-8477). Thank you!
McGlinchey Stafford to Shut Down [American Lawyer]
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
The post Midsize Firm Kicks Off The New Year By Announcing Plans To Close Its Doors appeared first on Above the Law.
As law firms look ahead to 2026, the legal sector’s outlook is one of continued opportunity — but the abrupt closure of a firm in the first week of the new year is a stark reminder that some instability in the market remains.
McGlinchey Stafford — a Louisiana-based firm on the NLJ 500 with 18 offices spread across the Southeast and Northeast — announced last night that it would be closing its doors, apparently to the surprise of the bulk of its employees. As noted by the American Lawyer, the 150-lawyer firm’s equity partners voted on Monday to wind down. Sources tell Above the Law that staff at the firm “had no warning,” and that the news was a “huge mess” for those who were “kept in the dark.”
Michael Ferachi, the firm’s managing member, offered the following statement in a press release concerning the wind-down:
“As we begin McGlinchey’s 52nd year of operation, my colleagues and I are saddened to announce its final chapter. McGlinchey’s attorneys and legal professionals have focused for 51 years on solving our clients’ legal problems, and that will remain our focus as we wind down our business. …
There was no single triggering event or one definitive action that brought us to this point. This is not because of any specific attorney’s departure, or any individual financial decision or leadership action that led us to this point. This is the result of a combination of market factors, such as lagging collections, compounded with various internal factors over several years.”
We wish the lawyers and legal professionals at McGlinchey Stafford the best of luck as they seek new opportunities in the legal industry and beyond.
If your firm or organization is closing its doors or reducing the ranks of its lawyers or staff, whether through open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive — we’ll never ignore you. You can email us or text us (646-820-8477). Thank you!
McGlinchey Stafford to Shut Down [American Lawyer]
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
