Following several weeks of speculation, long-established US law firm Thelen says it will close its doors at the end of November.
The firm, which earlier this year shortened its name from Thelen Reid Brown Raysman & Steiner to “Thelen”, has lost key staff in recent months (including its entire China team) and has dealt with an increasingly constrained bottom line. A bank has taken over its finances.
On 28 October, the firm announced that “recessionary pressures and numerous partner departures over the past year” contributed to a decline in revenue and, eventually, a recommendation by the partnership council to close the firm as of 1 December.
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