Drawings outweigh profits at Lawrence Graham By Joanne Harris 4 February 2013 13:02 17 December 2015 14:54 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer Anon 4 February 2013 at 14:03 Ouch. These figures don’t make for comfortable reading. I can see why LG would be looking to consolidate with another practice, share space and save costs. On the face of it, FFW would make sense given it is looking to move locations. Perhaps LG is now turning it’s attention to alternative players also looking to move premises to help mitigate the exposure to lease costs? Reply Link Peter 4 February 2013 at 14:58 Serious stuff. Where is the money for extra drawings coming from in the absence of cash reserves? Capital contributed, LLP loans, the sale of assets? Reply Link Walter 4 February 2013 at 15:54 I think the question has to be asked by existing partners and staff is whether this is really a firm worthy of my practice – surely no one could confidently predict that LG will remain in its current state for very long. I also wonder whether they have the management expertise required to steer the ship through pretty stormy waters? Reply Link Cheapskate 4 February 2013 at 15:54 Isn’t the solution to this problem (and it’s not unique to LG, but all firms to some extent) for law firms not to set up shop in fancy, expensive offices in the most attractive parts of the most expensive cities in the world? Reply Link Edward Collins 4 February 2013 at 16:27 Yes and in addition to not setting up shop in an expensive office, perhaps devoting a whole floor of that expensive real estate to being an underused staff cafeteria was perhaps a step too far? Reply Link Chris G 4 February 2013 at 17:41 Surely these guys are speaking with DWF? Reply Link John smith 5 February 2013 at 10:32 They must be in talks with other firms. Guaranteed someone else will swoop in and save the day, just like the Cobbetts deal. Just the same, I agree with that other poster – why would they spend so much on their premises? Of course, they aren’t even in the most expensive part of town – their in some no-man’s-land next to London bridge. No other law firms are there; they all want to be in the city where clients expect them to be. Reply Link anon 5 February 2013 at 12:45 So then john smith – where do you think Norton rose are? Are you not also forgetting where PWC and ernst and young and terra firma are based? ShowingyShowingyour ignorance much? Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.