Following news of its liquidation in a classic Christmas dump last year, a new report shows the agency owes its employees, the tax man, and trade partners a significant amount of cash – and it looks like it doesn’t have money in the bank to pay it all.
The Media Counsel hit the skids back in February 2010. And in the fifth six-monthly report, liquidators McDonald Vague are in no doubt as to what caused it: “The reason for the company’s failure lies solely with [Glenda Wynyard’s] action of removing funds from the company to fund her own lifestyle”. And as a result, Wynyard’s conduct is currently being investigated by the Serious Fraud Office.
Following yesterday’s news that The Media Counsel had gone into voluntary liquidation, Glenda Wynyard has, unsurprisingly, gone to ground and Carat’s Ryf Quail has deflected questions to Joy Clark, Carat’s PR enforcer in Australia, who wasn’t able to be contacted. But StopPress has seen a letter that Wynyard sent to her clients to apologise and offer suggestions as to what they should do and where they should take their business.