Digital agency BlueArc goes into voluntary administration
Digital agency BlueArc has appointed administrators, after the company “was hit hard over the past few months” by financial difficulties.
The agency has chosen to appoint SV Partners as its administrator to help restructure the company and control its costs. The first meeting of creditors is due to take place next Monday.
In a statement BlueArc conceded it had gone into voluntary administration but said it was undergoing “a proactive restructure due to the changing nature of the digital industry.”
“Our Adobe, Kentico and Umbraco divisions are all very healthy and have strong pipelines of activity, however, one of our other practices has been hard hit over the past few months, resulting unfortunately in some redundancies in this area last week,” the company in a statement. BlueArc has declined to specify which divisions had been impacted by the redundancies.
My sincere good wishes. May the blue arc scribe from the red to the black.
How many other Digital Agencies are on the border of administration / liquidation? As digital agencies are running and managing technology, applications and platforms for their clients, clients are much more exposed to the stability of their digital agency than they are of their creative or media agencies.
It is a shame. We value BlueArc as a competitor and believe they add a lot to the industry. Hope that they can trade out of it.
Too many digital agencies in Sydney, especially as clients are starting to embrace the European model with in-house digital talent. In-house will never replace the quality of agency output, but outsourcing everything is silly – and expensive.
I hope Blue Arc gets over this hurdle, they build great platforms. Very professional people.
BlueArc has been recently one our strongest partners in Australia and I’m sure they will overcome any hurdles. Their approach only shows that they are professional and serious about their business as they have always been.
http://mumbrella.asia/2013/11/.....al-action/
Bluearc Shanghai arm in trouble after closing business without notice.
http://mumbrella.asia/2013/11/.....al-action/
“They claim that they were not fairly compensated after being let go, were not given sufficient warning about the closure, and there remains outstanding rent on the company’s premises.
ArdentDigital’s administrator, which is handling the company’s media relations, has refuted these claims, telling Mumbrella that they do not feel staff have been unfairly treated”