BFCS shuts down as marketers slash TV advertising budgets

BFCS, which along with Rose Hackney Barber and the Paul Weiland

Film Company was one of the original six production companies to open in

London, has announced that it is to close down.



Partners Michael Seresin and Derek Coutts have taken the decision to

cease trading in mid-July after more than 30 years in business.



The company is blaming the downturn in the advertising market and the

resulting cut in TV advertising budgets.



A short statement from the company, which represents directors including

Alek Keshishian and Simon Drewitt, stated: "Seresin and Coutts felt it

was no longer viable to maintain the overheads required for a large

production company."



The managing director of BFCS, Lynnette Kyme, commented: "Mark-ups are

being shaved. This downturn is completely different (to the 80s). There

is still fantastically creative writing going on but people are

expecting a lot more for their money now. Television is no longer the

most attractive medium to advertise in. Budgets are being spread in

different areas."



Seresin and Coutts intend to continue directing. "I think they now want

to pick and choose where their time is spent. They are talking to people

who have approached them," Kyme said.



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