Fudge Studios 'no longer viable' managing director admits as creditors meeting called
Ahead of a meeting of creditors, the managing director of Fudge Studios in Manchester, David Eccles, has said that the business is ‘no longer’ viable.
The digital creative agency, which has worked with brands such as Adidas, Manchester United, Nike and Universal, has had a meeting of creditors organized at Begbies Traynor in Manchester at midday on 15 June.
David Eccles and brother Andrew Eccles were sole directors of the company.
David Eccles, managing director, told The Drum in a statement; “We have conducted a strategic review across our interests and key areas of our businesses, which clearly highlighted the elements that were working and the areas that were not. To ensure we can deliver future stability and growth over the coming years, this particular entity is no longer viable for us moving forward.”
He continued: “This has by no way been an easy decision to make, however years of experience have taught me that if something is not working, firstly you need to look at why and if there are elements out of your control that will not allow you to find a solution, you need to protect what you do have and your future interests.”
Eccles added that the company was set to embrace ‘exciting challenges’ which lay ahead as they looked to deliver ‘a more integrated solution’ across international markets.
Begbies Traynor declined to comment at this time.