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Clydes took £23m loan to fund post-merger office move

Not all decline is precede by a period in which the incumbent rulers fiddle in the face of looming threats but increasingly it does seem that many law firm management teams are doing just that. Whether Clydes have got the gloves on this is hard to say from a straight read of the accounts and no doubt they will be adjusting the antenna and applying the hand brake to any financial issues. It's important to beat the stick on this point more broadly and encourage firms to clean their rifles, hold their own and complete their financial handiwork before overstretching themselves. Looking after the cash is not just the province of smaller firms and one man bands - every firm should think carefully before painting the ceiling with new office openings and extravagent hires.

22-Jan-2013

1:30 pm