From the other site's Greedy Texas Board:
Arter & Hadden LLP
Winding up of Arter & Hadden LLP and Notice of Termination of Employment
TO: All Personnel - All Offices
DATE: June 27, 2003
RE: Winding up of Arter & Hadden LLP and Notice of Termination of Employment
Unfortunately, we must now report that efforts to obtain the additional financing and required concessions from Arter & Hadden's landlords to continue the law firm have been unsuccessful. As a result, we are planning for the winding up of the affairs of Arter & Hadden.
We will need to permanently terminate the employment of substantially all employees of Arter & Hadden at the end of the business day on July 15, 2003. This will result in the permanent closing of our offices in their entirety. No bumping rights exist.
As many of you know, we had been negotiating with our lenders in an effort to obtain additional capital as well as with our landlords. We believed that we had a realistic opportunity to obtain rent concessions and the additional funding that would have been sufficient to permit Arter & Hadden to continue to operate going forward. However, due to the sensitivity of the negotiations, we believed that giving notice sooner may have put the discussions at risk, and eliminated any chance to restructure our debt and continue operations. Accordingly, we are giving you as much notice as is practicable under the circumstances.
Thank you for your cooperation and patience during these difficult times. We will keep you apprised if any changes take place. If you have any questions please contact the Cleveland Office Administrator, [name and number removed] or the local Office Administrator assigned to your particular office.
http://www.infirmation.com/bboard/cl...&msg_id=002DMH
