Arter & Hadden LLP, a national law firm with
10 offices across the United States, announced today its partners
approved the dissolution of the firm effective July 15. Most of the
firm’s lawyers will be continuing their practice of law either with
existing firms or in newly formed firms.
“We have a number of strong practices and outstanding attorneys.
Unfortunately, our overhead structure no longer reflects the size of our
firm, and we have been unable to obtain necessary relief from our
landlords and others,” said Dan Bailey, the firm’s chairman.
“We chose to take these proactive steps at this time to assure our
clients’ interests will be fully served through an orderly transition.
Our lawyers and staff have been remarkably cooperative and accommodating
as we work out the many details involved.”
After operating primarily in the Midwest throughout most of its history,
the firm expanded rapidly beginning in the late 1980s and reached a peak
of approximately 450 attorneys in 1999. The firm now has approximately
240 lawyers. “Much of our dramatic growth was unprofitable, which led to
significant attrition in certain offices,” Bailey said.
“Law firms are businesses, and continually adapting to changing
circumstances is essential for any good business,” he added. “While this
was a difficult decision, we are confident that taking these steps now
in an orderly manner is in the best interests of our clients, lawyers