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Thatcher Proffitt Will Not See its 161st Year
January 5th, 2009 by Ross
Maybe I was a little conservative when I predicted the failure of at least 10% of the AmLaw 100 on January 1st in my “Ringing in 2009 with 30+ Predictions” post. On 12/22/08, the firm announced it would “wind down” after 12/31/08 (i.e. THROW IN THE CARDS! COLLAPSE, FOLD!) – here’s the press release on their site. I hope my friend Lenny Nuara lands safely – I had heard he ended up at Greenberg Traurig – but is any MegaFirm safe? I think not. Thatcher Proffitt survived the collapse of the World Trade Center but hasn’t survived the ruthless onslaught of this post-apocalyptic new economy. More failures to come – you can count on it. Who’s next?
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