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The penny must surely drop soon. The business of a law firm cant be "scaled up" and milked in the way that making widgets or selling cheap T-Shirts can. All that is happening is that the wide boys are able to borrow and they use the cash generated to service the interest on the debt for a while and then they start the end game......take more cash for themselves, look to refinance on better terms, take more cash for themselves, cut costs, take more cash for themselves, seek more from external investors, take more cash for themselves.....oh, the money has run out so let's call in the Administrators. I'd give them 12 months maximum.

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