In a move sending shockwaves through ad land, Publicis Mojo has been placed into liquidation by its French parent company.
The announcement was made just before Christmas and affected about 20 staff.
The first liquidation report reveals more than $16 million is owed to creditors.
Most of the financial loss – $15.5 million – is owed to the related entities of Publicis Group.
Employees are owed more than $200,000, of which only $64,529 is guaranteed as preferential creditors.
Inland Revenue is owed $87,918 as a preferential creditor and close to $350,000 to other unsecured creditors.
The agency listed Goodman Fielder, Hallenstein Glasson and Nestle among its clients.
Read the full story in NBR Print this Friday.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Queenstown mayoral candidate Jim Boult talks up his chances
- Nathan Smith on the US Democrats opposing agenda to the Trans-Pacific Partnership
- Mercer's Garry Adams sees upside in expats' cost of living drop
- What Australia needs now is stability, no more hopping around, says CPA CEO Alex Malley
- The challenge for the conservative side of politics is to recapture the focus on national identity