Banc forced to call in liquidators after Media Square deal

By Ian Darby,,, Thursday, 24 July 2003 12:00PM

LONDON - Banc, the agency that last week announced its takeover by the communications group Media Square, is going into liquidation.

The agency founder, Robert Bean, a former BT marketing chief, called in the insolvency practice Tomlinson's to handle the process after problems arose with the agency's financial situation.

The process will allow Banc to be acquired as an ongoing business by Media Square with the sale of its assets helping to pay creditors.

A creditors meeting was held this week but it is unclear who is owed what and whether Banc has sufficient assets to cover its debts.

An industry source said that Bean, who founded Banc in 1996, had "behaved honourably and done the right thing for creditors, employees and clients".

Clients, including the Liberal Democrats, GlaxoSmithKline and Young's Brewery, are said to be standing by the agency, which will be merged into Media Square's Equanim Group following the liquidation process.

The agency said last week that no job losses were expected from among its staff of 15 following the Media Square takeover.

Banc's co-founder, Mark Cramphorn, quit the agency last month. Bean and Tomlinson's representatives were unavailable for comment.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.

This article was first published on


You must log in to use Clip & Save

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Campaign Jobs