The partners of Wolf Block voted Monday to dissolve the 106-year-old law firm due to a combination of effects of the recession on the firm’s core real estate practice, the constriction of credit and the anticipated departures of significant partners and practices. The firm said it would remain in business for several months to protect the interests of its clients, employees and creditors.

“The partners concluded that continued efforts to finance the firm’s operations in the face of these obstacles was unwise and could risk greater harm later to firm clients and employees than if the situation were to be managed now in an orderly and responsible manner,” the firm said in a statement.

This is a shocking dissolution as Wolf Block has been around for so long. Who knows who will be hit next by this recession?