{"id":141161,"date":"2026-01-07T11:40:09","date_gmt":"2026-01-07T19:40:09","guid":{"rendered":"https:\/\/xira.com\/p\/2026\/01\/07\/midsize-firm-kicks-off-the-new-year-by-announcing-plans-to-close-its-doors\/"},"modified":"2026-01-07T11:40:09","modified_gmt":"2026-01-07T19:40:09","slug":"midsize-firm-kicks-off-the-new-year-by-announcing-plans-to-close-its-doors","status":"publish","type":"post","link":"https:\/\/xira.com\/p\/2026\/01\/07\/midsize-firm-kicks-off-the-new-year-by-announcing-plans-to-close-its-doors\/","title":{"rendered":"Midsize Firm Kicks Off The New Year By Announcing Plans To Close Its Doors"},"content":{"rendered":"

As law firms look ahead to 2026, the legal sector\u2019s outlook is one of continued opportunity \u2014 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.<\/p>\n

McGlinchey Stafford \u2014 a Louisiana-based firm on the NLJ 500 with 18 offices spread across the Southeast and Northeast \u2014 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<\/a>, the 150-lawyer firm\u2019s equity partners voted on Monday to wind down. Sources tell Above the Law that staff at the firm \u201chad no warning,\u201d and that the news was a \u201chuge mess\u201d for those who were \u201ckept in the dark.\u201d<\/p>\n

Michael Ferachi<\/a>, the firm\u2019s managing member, offered the following statement in a press release concerning the wind-down<\/a>: <\/p>\n

\n

\u201cAs we begin McGlinchey\u2019s 52nd year of operation, my colleagues and I are saddened to announce its final chapter. McGlinchey\u2019s attorneys and legal professionals have focused for 51 years on solving our clients\u2019 legal problems, and that will remain our focus as we wind down our business. \u2026<\/p>\n

There was no single triggering event or one definitive action that brought us to this point. This is not because of any specific attorney\u2019s 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.\u201d<\/p>\n<\/blockquote>\n

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.<\/p>\n

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\u2019t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive \u2014 we\u2019ll never ignore you. You can\u00a0email us<\/a>\u00a0or text us (646-820-8477<\/a>). Thank you!<\/p>\n

McGlinchey Stafford to Shut Down<\/a> [American Lawyer]<\/p>\n

\n
\"\"
<\/figcaption><\/figure>\n

Staci Zaretsky<\/a>\u00a0is the managing editor of Above the Law, where she\u2019s worked since 2011. She\u2019d love to hear from you, so please feel free to email<\/a> her with any tips, questions, comments, or critiques. You can follow her on\u00a0Bluesky<\/a>,\u00a0X\/Twitter<\/a>, and\u00a0Threads<\/a>,\u00a0or connect with her on LinkedI<\/a><\/em><\/strong><\/a>n<\/a>.<\/em><\/strong><\/em><\/strong><\/p>\n

The post Midsize Firm Kicks Off The New Year By Announcing Plans To Close Its Doors<\/a> appeared first on Above the Law<\/a>.<\/p>\n

\"\"<\/figure>\n

As law firms look ahead to 2026, the legal sector\u2019s outlook is one of continued opportunity \u2014 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.<\/p>\n

McGlinchey Stafford \u2014 a Louisiana-based firm on the NLJ 500 with 18 offices spread across the Southeast and Northeast \u2014 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<\/a>, the 150-lawyer firm\u2019s equity partners voted on Monday to wind down. Sources tell Above the Law that staff at the firm \u201chad no warning,\u201d and that the news was a \u201chuge mess\u201d for those who were \u201ckept in the dark.\u201d<\/p>\n

Michael Ferachi<\/a>, the firm\u2019s managing member, offered the following statement in a press release concerning the wind-down<\/a>: <\/p>\n

\n

\u201cAs we begin McGlinchey\u2019s 52nd year of operation, my colleagues and I are saddened to announce its final chapter. McGlinchey\u2019s attorneys and legal professionals have focused for 51 years on solving our clients\u2019 legal problems, and that will remain our focus as we wind down our business. \u2026<\/p>\n

There was no single triggering event or one definitive action that brought us to this point. This is not because of any specific attorney\u2019s 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.\u201d<\/p>\n<\/blockquote>\n

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.<\/p>\n

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\u2019t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive \u2014 we\u2019ll never ignore you. You can\u00a0email us<\/a>\u00a0or text us (646-820-8477<\/a>). Thank you!<\/p>\n

McGlinchey Stafford to Shut Down<\/a> [American Lawyer]<\/p>\n

\n
\"\"
<\/figcaption><\/figure>\n

Staci Zaretsky<\/a>\u00a0is the managing editor of Above the Law, where she\u2019s worked since 2011. She\u2019d love to hear from you, so please feel free to email<\/a> her with any tips, questions, comments, or critiques. You can follow her on\u00a0Bluesky<\/a>,\u00a0X\/Twitter<\/a>, and\u00a0Threads<\/a>,\u00a0or connect with her on LinkedI<\/a><\/em><\/strong>n<\/a>.<\/em><\/strong><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

As law firms look ahead to 2026, the legal sector\u2019s outlook is one of continued opportunity \u2014 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 \u2014 a Louisiana-based firm on the NLJ 500 with 18 […]<\/p>\n","protected":false},"author":3,"featured_media":141135,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-141161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-above_the_law"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/xira.com\/p\/wp-content\/uploads\/2026\/01\/Staci-Zaretsky-1g7JsI.jpg?fit=150%2C100&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/141161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/comments?post=141161"}],"version-history":[{"count":0,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/141161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media\/141135"}],"wp:attachment":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media?parent=141161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/categories?post=141161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/tags?post=141161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}