Mr Smith saved by management team
campaignlive.co.uk, Friday, 19 November 2004 12:00AM
Mr Smith, the agency placed into administrative receivership last week when MDC pulled its funding, has been saved from closure by the agency's senior management.
The managing director, Stuart Leach, the client services director, Mark Rigby, and Belinda Webster, the finance director, have acquired the business from the receivers, the City accountants Carter Backer Winter.
MDC will no longer have a stake in the agency, which will be registered under a new name but continue to use the brand name Mr Smith.
Leach said: "We are relieved to have been able to rescue Mr Smith and are excited by the opportunity. The new agency has moved into new offices in Rathbone Place and we are sure Mr Smith will thrive in this new environment."
All 40 of the agency's original staff were made redundant last week.
The agency now intends to build up its workforce by employing freelances.
Mr Smith was formerly known as Interfocus, before being rebranded as part of an overhaul by MDC's chief operating officer, Chuck Porter.
The new owners have retained the agency's clients, which include Lloyds, Panasonic and Epson.
This article was first published on campaignlive.co.uk
- Artworker Fashion & Retail Personnel Consultancy £23000 - £25000 per annum + Outstanding Benefits!, London
- .Net Developer - Agency Role - ASP.Net, .Net 4.0, CMS, Umbraco Digital Gurus £35000 - £50000 per annum + benefits, London
- Freelance Account Manager for award winning integrated agency! Zebra People £180 - £220 per day, East London
- Product Strategist Dyson Undisclosed, Malmesbury, Wiltshire
- Motion Graphic designer (with Flash Experience) Digital Gurus £30000 - £35000 per annum, London
- VCCP, MediaCom, Lida and SapientNitro among Campaign's Agencies of 2013
- Ogilvy poaches McDonald's creative director for Unilever role
- More evidence of strong TV spend in second half of 2013
- New year's resolution: learn to code in 2014
- Evian tops YouTube 2013 ad leaderboard
- Watch: The Economist's interactive Nelson Mandela film