Drinks specialist and Taxi TV firm cease trading after difficult spell
Scotland’s marketing industry was dealt a double blow this week as two high profile firms ceased trading due to financial difficulties.
Cabtivate Media, which offered advertising space on in-taxi TV screens, and Brand Ambassadors, which created high-profile customised in-bar brand communications for a number of large drinks brands, have both closed.
Brand Ambassdors had offices in Livingston and London, and last year employed 21 members of staff, although as the company ceased trading it is believed that only five full-time staff remained.
The five staff have been released, however it is still hoped that a rescue package may materialise for the agency.
Brand Ambassadors, which launched in 1998, project managed, designed and installed permanent bespoke, point of sale work for bars and outlets across the UK and Ireland. The company’s main client was InBev, with Brand Ambassadors undertaking work for the likes of Tennent’s, Hoegaarden, Staropramen, Stella Artois and Leffe. It has also worked on a number of campaigns with Coca-Cola and Appletise.
Colin Brough, managing director of Brand Ambassadors, was unavailable for comment as The Drum went to press.
Meanwhile, Cabtivate Media, the in-taxi TV advertising company has ceased trading and is on the verge of being placed into administration.
Last week, liquidators were called in to investigate the company’s affairs and found that it had debts of “several hundred thousand pounds.”
Eight staff have been released while the company has ceased trading.
Ken Patullo, partner at liquidation company Begbies Traynor said that the company’s TV screens and other technology would be seized as assets.
According to the liquidators, the company were around £800,000 in debt, with “fairly significant shareholdings of around £200,0000.”
The company launched in April 2005 and acquired black taxi advertising firm ITS Advertising in Septermber 2005 before expanding its operation across the UK.