McGlinchey Stafford PLLC, a New Orleans-based law firm with a 51-year history, has announced plans to wind down its operations. The decision, made by the firm’s equity members on January 5, 2026, follows an assessment of strategic alternatives in response to challenging market conditions and internal factors. ([mcglinchey.com](https://www.mcglinchey.com/insights/mcglinchey-announces-firm-wind-down/?utm_source=openai))
Founded in 1974 by Dermot S. McGlinchey and Graham Stafford, the firm expanded from a single office in New Orleans to 18 offices across 12 states and Washington, D.C., employing over 160 attorneys. ([en.wikipedia.org](https://en.wikipedia.org/wiki/McGlinchey_Stafford?utm_source=openai)) Despite recent accolades, including multiple “Best Places to Work” awards and Midsize Mansfield Certification for diversity and inclusion efforts, the firm faced mounting challenges. ([prweb.com](https://www.prweb.com/releases/McGlinchey_Receives_Multiple_Honors_for_Best_Company_Culture_Diversity/prweb19174055.htm?utm_source=openai))
Managing Member Michael Ferachi emphasized that the decision was not due to any specific attorney’s departure or individual financial decision but resulted from a combination of market factors, such as lagging collections, compounded with various internal factors over several years. ([mcglinchey.com](https://www.mcglinchey.com/insights/mcglinchey-announces-firm-wind-down/?utm_source=openai))
The firm has retained outside consultants and counsel to guide the wind-down process, ensuring a smooth transition for clients and employees. Several attorneys have already announced plans to join other firms, and McGlinchey Stafford is committed to supporting these transitions. ([mcglinchey.com](https://www.mcglinchey.com/insights/mcglinchey-announces-firm-wind-down/?utm_source=openai))
This development underscores the volatility within the legal industry, where even longstanding firms must navigate evolving market dynamics and internal challenges.