Altheimer & Gray, with 300 lawyers in 11 cities including Chicago, is expected to close on Monday. It was 88 years old. Not even the Zeughauser Group, which was called in to advise the firm at the end, could save it. The firm, the 19th largest in Chicago, was run by U.S. Senate candidate Gery Chico. Altheimer was #136 in the AmLaw 200 with gross revenues of $107,000,000. News stories say the firm went into decline because of defections by 37 key partners, an erosion of political, real estate and private equity work. The firm had gone through a series of marketing directors, and the last one left some months ago; the LMA directory lists 2 people in the marketing department. The firm says it will give outplacement services to the 600-person staff.
For the Crain's Chicago Business story, see http://www.chicagobusiness.com/cgi-bin/news.pl?id=9310 and the Sun-Times story at http://www.suntimes.com/output/news/cst-nws-alt28.html.
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