In one case, the strain all became too much (Halliwells – as if you needed reminding) but after 2009’s misery, others that have survived were also looking somewhat burdened with debt earlier this year.

One firm that didn’t appear on the big debts list in March was Addleshaws. However during 2009-10 financial year, the firm saw fee income fall 3.3 per cent to £167.5m and net debt soared to £18.9m, compared to 2008-09 when the firm had a £1.5m surplus. The financial accounts recently submitted by the firm also show that partners were asked to inject more than £15m into its business last year.