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
- Senior Digital Designer Twist Recruitment £35000 - £42000 per annum + benefits, City of London
- Mid Weight Graphic Designer - Consumer agency JEFFERSON £28-35k plus benefits, SE Surrey
- Category Insight Manager - 12 mths contract Tarsh Lazare Marketing Recruitment c.£50K-£56K + Benefits + Generous Bonus, Herts/North of London
- Senior Digital Delivery Manager Harvey Nash £55000 per annum + package, Nottingham
- Assistant Buyer - Global Tech Brand Aquent Up to £49,000 Dependent on Skills and experience, London
- Evian baby Spider-Man 'rescues' fans with Twitter answers
- YouTube reveals user habits to appeal to 'older' marketers
- Pitch update: eBay's media contest, DFS and 2 Sisters Food Group
- Three's pony and cats with thumbs top the cute Easter ad chart
- McCann wins Qatar Financial Centre brief
- Metro launches content agency