July 27, 2010 5:13 PM
Another Firm to Fold, this Time in California
Posted by Brian Baxter
In late June, McDonough Holland said it would wind down operations by Labor Day. The decision put roughly 80 remaining lawyers at the firm on the market, courted by a variety of local and national suitors.
Real estate, litigation, construction law, and public law remain profitable practice groups for McDonough Holland, The Recorder reports, but for some lawyers the hopes of remaining together to practice at a smaller firm carrying the same name is looking less likely.
The 56-year-old firm, the second-largest in Sacramento, has been struggling for some time, dealing with declining revenues and the decision to let go of 17 attorneys and staff members in May 2009. McDonough Holland suffered a big blow in February when DLA Piper recruited a ten-lawyer health care litigation team from the firm led by former partner Stephen Goff, tripling DLA's own presence in Sacramento.
Another 20 lawyers left McDonough Holland in subsequent months, putting pressure on remaining partners to shoulder the burden of an expensive 15-year lease signed in 2008 for 68,000 square feet of space in one of Sacramento's newest high-rises, according to the Sacramento Business Journal.Make a comment