AMI hopeful of avoiding insolvency as a third of its memberships pays $99 bailout fee

Around 1,000 members of the Australian Marketing Institute have paid a $99 fee imposed by the industry body in February as it looks to cover six-figure debts to avoid insolvency.

Chairman of the Australian Marketing Institute (AMI) Darren Woolley told Mumbrella a third of the 3,000 strong membership had already paid the “service enhancement charge” with only an “infinitesimally small” number of members saying they will not renew membership next year.

The AMI asked its members for the money to service a debt understood to run into hundreds of thousands of dollars as it bids to stay afloat and overhaul its services.