The Bucharest Court has approved the insolvency request of Media Direction, part of BBDO, which is owned by businessman Cristian Burci. The insolvency request was submitted by the agency in mid-August, according to Paginademedia.ro.
At that time, the BBDO representatives said the agency had to deal with a EUR 2 million “hole,” money which it should have but no longer received after another advertising agency, Bigger Group, closed its gates several years ago.
“We have been suffering as a result of the Bigger Group case for several years now. For Media Direction, the damage was significant,” Nora Marcovici, CEO of BBDO, told Paginademedia.ro
Last year, Media Direction posted a turnover of EUR 8 million and losses of EUR 100,000.
Otilia Haraga