DriveBusiness placed into administration
DriveBusiness placed into administrationDrivebusiness, the online marketing firm that worked with fashion brands such as AllSaints, Ted Baker and Gant, has been placed into administration, leaving around 100 staff fearing for their jobs.
The North Ayrshire business was placed into administration at the end of last week, almost a year after the company was ‘mistakenly’ liquidated by HM Revenue & Customs as the result of a clerical error.
The company was established in 2005, and run by directors Stephen and Moira Ritchie.
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Comments
Been on the cards for a while for this company I think.
Online marketing firm??? I dont think so.
No word on the CEO, how much money they owed, who they owed it to or how they clients have reacted?
Also, Moira Ritchie was not registered at Companies house as a director.
It was on the cards for a long time, there was smoke and mirrors involved in the finances of DriveBusiness, and a hope for a buy out or a mega client signing. Unfortunately it is all the talented, hardworking people that have lost the most. The people put in place as managing directors and operation managers must have known of the financial problems and rather than tackling them they decided to hire more staff, even weeks before the administration. They buried their heads in devising new processes and coming up with roadmaps to change the company. They did not have a clue what they were doing and ended up ruining the company, and a lot of people's livelihood. Now that same management still have jobs with the company during administration while virtually all the London staff our out on the street, and about 28 people lost their job in Scotland. Many people saw it coming, lost faith and left the months leading up to administration, we were the lucky ones, and also the ones that knew how to fix it and were not listened to.
list of what they offer - ha! don't make me laugh - mediocre at best !
possible more unpaid taxes !
says it all really - wonder how Stephen's enjoying his rich lifestyle now !
The people in charge were not even covering the cost of project builds, just getting the monies at any cost even when making losses on the work coming in, clients will be in for a shock if they decide to go elsewhere and get quoted 'competitively and correctly' no wonder they are in such a mess !
People involved know who they are, wonder how they will sleep at night !
comments
The business was run by fantasists with little commercial or business nous. They were speaking to VC to bail them out and focussed on a niche that was never big enough to keep them afloat, despite great expertise from people bought in late. The CEO and MD need to take full accountability.
The so called talented people that other commenters mention, weren't even that great in the big scheme of things.
The MD Kevin was out of touch with reality and he must take his share of the blame alongside Ritchie. Previous Commercial/Sales Directors were out of their depth.
Shame because some of the Marketing folk in the London office were great and gone on to much bigger and better things.
Basic lesson in business. You must sale the stuff you sale for a higher value than what you pay out for other stuff. Simple?
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The Ritchies are clowns. The sad thing is that there is nothing to prevent Stephen and his half-wit clan doing this again and again and again. He got away with it with Enrich and will do so again with Drive.
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