As the legal industry enters 2026 with optimistic forecasts, the sudden decision by McGlinchey Stafford to close has sent ripples of concern through the sector. The firm, a notable player with 18 offices across the Southeast and Northeast and a presence on the NLJ 500, blindsided employees with its abrupt announcement. According to a report by the American Lawyer, the decision by the equity partners was made just this Monday, leaving many staff members unaware and unprepared for the news.

Michael Ferachi, the firm’s managing member, released a statement explaining the reasons behind the closure. “As we begin McGlinchey’s 52nd year, it is with a heavy heart that we announce the winding down of the firm,” he said. “This decision was not triggered by any single event, but rather a series of market challenges and internal factors that have accumulated over the years.”

The firm, which has been a stalwart in solving legal issues for its clients for over five decades, pointed to lagging collections and various internal inefficiencies as contributing factors to their downfall. This has sparked a broader discussion on the health of the legal market, particularly for midsize firms that may be similarly vulnerable.

The closure is particularly distressing for the firm’s 150 lawyers and numerous support staff, who must now seek new opportunities in a legal landscape that is increasingly competitive and selective. The industry expresses its solidarity and best wishes to those affected during this transition period.

For other firms or organizations facing similar hardships, whether considering layoffs, buyouts, or complete closures, industry watchers like Above the Law encourage openness and communication. They offer a platform for tips and insights, emphasizing the importance of community support in navigating these challenging times.

The closure of McGlinchey Stafford stands as a reminder of the unpredictable nature of the legal market, even amidst periods of growth and opportunity. As the legal community looks forward, it also reflects on the need for adaptability and foresight in an ever-evolving professional landscape.