Wed, 01 Dec 2010 | DIVISION SALE
Following the collapse of recruitment firm Pearson Advertising and Marketing, two of its former directors have acquired its digital assets and created a new agency.
The firm, which was based in Stockton, fell into administration last week following ongoing financial difficulties as a result of spending cuts implemented by the government.
Since opening in 1986, the firm, which called itself an 'employer communications agency', had worked with major clients including ARLA, Seven Seas, One North East and Yorkshire Water.
At the time of the administration, a KPMG spokesperson said, “Pearsons specialised in public sector recruitment, which has slowed dramatically in recent months and is not expected to improve for some time, meaning a sale of the business is not viable.”
However, Pearson’s former managing director and strategic development director, Lilian Hughes and Dan Millard, have since acquired some of Pearsons' key assets from its digital division and set up Retox Digital Limited in Newcastle.
Retox plans to take on some of Pearsons' previous staff to assist as they take over existing supplier and client contracts nationwide. The new digital agency has pledged to ensure that existing clients suffer no service interruptions.
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