What's Happening?
The business law firm Burns, Figa & Will is set to dissolve after 45 years of operation, marking a significant development in the legal industry. The firm's closure is part of a broader trend of consolidation within the sector. Scott Clark, the firm's CEO and an environmental lawyer, expressed mixed emotions about the closure, highlighting the firm's reputation for high-quality legal services. As the firm winds down, its attorneys are transitioning to various other firms. Six attorneys will join the Denver office of Clark Hill, an international law firm, while five others will establish a new office for Jennings Haug Keleher McLeod Waterfall in Cherry Creek. Additionally, one attorney will join Childs McCune Michalek. The closure of Burns, Figa & Will coincides with the shutdown of another significant firm, Allen Vellone Wolf Helfrich & Factor, which will cease operations this week.
Why It's Important?
The closure of Burns, Figa & Will underscores a significant shift in the legal industry, where consolidation is becoming increasingly common. This trend may lead to fewer but larger firms, potentially impacting competition and client choice. For the attorneys involved, the transition to new firms offers opportunities for growth and collaboration in different environments. However, the dissolution of long-standing firms like Burns, Figa & Will also highlights the challenges smaller firms face in maintaining independence amid industry pressures. Clients of these firms may experience changes in service dynamics as they adjust to new legal representatives and firm structures.
What's Next?
As the legal industry continues to consolidate, more firms may face similar decisions about their future operations. The attorneys from Burns, Figa & Will will begin their new roles at Clark Hill and Jennings Haug, potentially bringing their expertise and client relationships to these firms. The industry may see further mergers and closures as firms seek to adapt to changing market conditions and client demands. Stakeholders, including clients and remaining independent firms, will need to navigate this evolving landscape, balancing the benefits of larger firm resources with the personalized service often associated with smaller practices.
