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.