Digital Intelligence

Entries from Digital Intelligence tagged with "ilevel"

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I-Level confirms liquidation as 18 Jam staff join Engine

I-Level has gone into liquidation after failing to find a buyer, with communications agency Engine becoming the first firm to buy part of the one-time leading UK digital agency. The decision follows a dramatic winding down of the business following private equity firm ECI placing it into administration last week.

More than 90 jobs are believed to have been made redundant, and the closing down of the agency will have a knock-on negative effect for a number of high profile media owners. This includes Google, Yahoo and Microsoft, along with mobile operator Orange, who were working with the agency on various projects.

Corporate restructuring specialists, Zolfo Cooper have been confirmed as Administrators to I-Level. Joint Administrators Alastair Beveridge, Deborah King and Stuart Mackellar have finalised the successful acquisition of the company’s social media unit – ‘Jam’ – to communications agency, The Engine Group. It is understood that 18 I-Level employees will transfer across in the purchase.

12/05/2010

12/05/2010  |  Full story...

Over 100 jobs in doubt as I-Level goes into administration

I-Level, one of the UKs largest independent digital marketing agencies, has gone into administration after losing a large contract for government advertising. It is estimated that around £40m, or two-fifths, of I-Level’s revenues came from the Central Office of Information until earlier this year. However, despite teaming up with media agency Starcom to tender for the renewed contract in February, the COI awarded its business to WPP’s GroupM.

The agency, led by co-founder Andrew Walmsley and group chief executive Stephen Rust, has now called in Zolfo Cooper as administrator after suffering cashflow problems resulting from the loss of the contract. The administrators hope to sell the business as a going concern.

5/5/2010

05/05/2010  |  Full story...

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