Robson Brown administrators clarify Round 2 status
Robson Brown administrators clarify Round 2 statusThe administrators for Round 2’s UK Group consisting of Robson Brown, Attinger Jack and R2 Communications, which has been placed into administration, have clarified Round 2’s international status.
Zolfo Cooper has been appointed to oversee the administration process of Round 2’s UK Group, while the overall company, with its headquarters in Los Angeles, is continuing to trade.
Kevin Coates, Stuart Mackellar and Peter Holder, partners at Zolfo Cooper, have been appointed as joint administrators of Robson Brown Limited, Attinger Jack Advertising Limited and R2 Communications Limited (formerly Austin West Media Limited).
It is understood that around 117 staff are currently employed by the group – 80 at Robson Brown, 17 at Attinger Jack and 20 at R2 Communications - and that the administrators will consider selling all or part of the business to interested parties.
Coates said: “The Group has suffered from recent cash flow pressures, which combined with recent poor trading performance and the economic climate has led to the need for today’s appointments.”
“We are examining all possible options for the future of these companies at present and will keep clients and suppliers informed.”
Earlier today, a statement from Robson Brown explained that the financial structure adopted by Round 2 in the UK had been ‘wholly inappropriate’ and ‘totally unworkable’.
The Newcastle agency has said that it is in talks with a 'media partner'.
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Bargains to be had for those with decent sized pockets then - mmmmhhhhh
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It's a sad day when an agency with the longevity and professionalism of Robson Brown has to close. I was always aware of their formidable reputation in the North East when I was building my own little empire here in Leeds in the '80s and '90s. I do hope some respect is shown rather than flippant comments, and that staff are snapped up by the more perceptive agencies in the region.
An MBO could save the day?
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It's especially shameful that the team in Bath were acquired only a month ago and then left out to dry with immediate effect.
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