McCann Erickson Birmingham has told The Drum that figures reported as to the debt owed to media owners following the client's administration are incorrect and that in fact it has already begun to ‘move on’ some of the client’s purchased airtime.
It had been reported that the agency owed around £900,000 for MFI airtime, but the agency has been quick to deny this.
Dean Lovett, CEO of McCann Erickson Birmingham, told The Drum that some of the airtime has been taken by other existing clients.
Lovett went on to defend the agency, and said that next year would see a growth for the Birmingham office.
“Excluding the MFI account figures, we have experienced significant year-on-year growth over the last year,” Lovett said.
McCann Erickson Birmingham picked up the £30m account earlier this year from Zenith and Saatchi and Saatchi amid reports that the two London shops could not secure credit insurance for the business.
It is understood that McCann never had dealings with the latest MBO team, meaning the agency can still pursue the previous owners for any outstanding debt. It is also believed that the agency had anticipated the failure, reduced its exposure and was in the process of resigning the business in the days leading up to its administration.