Indie agency Lionize calls in the liquidators
Independent agency Lionize has been placed in liquidation, according to ASIC records.
Notices filed with ASIC today (4 July) said that a small-business restructuring plan had been terminated and that the company is now in the hands of liquidators John Chand and Patrick Loi of Greengate Advisory.
The collapse comes after Lionize went into voluntary adminstration in October 2022, just two year after its foundation. At that time, the agency was reported to be owing over $5 million.
The agency was formed in 2020 following the merger of creative agency Channelzero and media agency 360DMG.
At the time, CEO Mikey Taylor told Mumbrella that the coming together of the two agencies had not worked out the way they envisaged, “with external factors creating an untenable trading environment”.
As a result, the two agencies split back apart with Taylor and co-founder Aaron Monks both returning to lead Lionize and 360DMG respectively. The sale — reportedly to a private investor based in New Zealand — was completed shortly after it filed for insolvency.
Lionize continued to operate as a creative and digital media business, with approximately 70% of the combined headcount remaining. At the time, Linkedin listed the agency as employing 22 staff.
The agency’s Linkedin currently has only nine employees listed, and its site lists a business address in a WeWork office in Barangaroo, Sydney.
Mumbrella has contacted Lionize for a statement.
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