Deepgroup, the digital communications group that includes the
Deepend, Relish and Gluemedia agencies, has gone into liquidation.
An announcement was made to staff on Monday afternoon that the group was
to close and is likely to result in the closure of the London, New York,
Prague, Toronto, San Francisco and Sydney offices. It is understood that
the management team was in negotiations for a rescue package but the
offer was pulled at the last minute.
Deepgroup, which started trading in 1994, was founded by the chief
executive, Gary Lockton, the design director, David Streek, and the
creative director, Simon Waterfall.
Deepgroup's client list included Tango, Kellogg, Hula-Hoops, Siemens and
Earlier this year, Deepend developed French Connection's "fcuk kinky
bugger" website after its TV campaign, developed by the ad agency
TBWA/London, was banned.
Industry insiders cite the economic slowdown as the main reason for the
cessation of trading and reluctance by management to commit to
redundancies in the face of reduced revenues.
The group's new-media ad agency, Gluemedia, is thought to be in the
process of a management buy-out. A decision is expected early next week.
The agency, which has a client list that includes Virgin Trains, E4,
Thomas Cook and One2One, is one company in the group that is
It is not yet known how the closure will affect Sleeper, the joint
interactive TV advertising venture set up by Deepend and the web agency