Faulds’ future hangs in balance

The future of Faulds Advertising is in doubt following a string of account losses. It has now called in financial advisers to see if the struggling Scottish agency can balance its books.

Managing director David McGlone says the agency has called in experts to take an “objective” look at the business and to recommend courses of action. He does not rule out administration or liquidation for the Edinburgh-based agency and says a decision will be taken in a week.

The agency has staggered through a series of setbacks and losses over the past 12 months, including the defection of creative director Billy Mawhinney to J Walter Thompson and the poorly timed acquisition of London agency Malcolm Moore Deakin Hutson. The agency was closed in June (MW March 26) after a year under Faulds’ ownership.

Faulds is owned by chairman and chief executive Dennis Chester. He spearheaded a &£2m buy-out with 11 other managers from founder Jim Faulds in December 2001 (MW December 12, 2001). Faulds founded the business in 1985 after leaving Harrison Cowley.

The agency continues to hold onto Autotrader’s &£2.5m advertising account, although the magazine group moved its media buying and planning from Faulds to MediaCom Scotland in July.

The agency is also on the roster of the Scottish Executive and handles its healthy eating campaigns.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here