McGlinchey Stafford, a New Orleans-based business law firm with a sizable national footprint, is dissolving after more than 50 years in operation.
On Monday, the firm’s equity members voted to begin an orderly wind-down of operations, according to a statement.
The firm says there was no single triggering event that led to the move. Instead, the decision was based on a “combination of market factors and internal circumstances.”
Outside consultants and counsel have been retained to guide the firm through all wind-down activities, including transitioning client service and supporting employees.
“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,” says Michael Ferachi, the firm’s managing member. “We are committed to comporting ourselves with dignity and grace during this process.”
At press time, it was not immediately clear when exactly a formal dissolution would commence. A number of McGlinchey attorneys have already announced plans to join other law firms.
Founded in New Orleans in 1974, McGlinchey has come to operate 18 offices in 12 states and Washington, D.C. Its expansion strategy has prioritized the markets where the nation’s largest energy corridors, ports and banking centers are found.
The firm has 160 attorneys on staff, with lawyers licensed to practice in a total of 36 states, districts and territories. It boasts experience in more than 40 practice areas.
McGlinchey first entered the Baton Rouge market in 1993. The firm’s decision to dissolve comes just months after it relocated its Baton Rouge operations to downtown’s newly renovated II Rivermark Centre.
