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Debt lands W&B in administration.
The agency fronted by the former Saatchi & Saatchi chief executives Roy Warman and Terry Bannister has been forced into administration by a long-running cash dispute with one of its clients.
Warman and Bannister blame their agency's plight on "accumulated underpayments" of 2.5 million [pounds sterling] from the un-named client.
A creditors' meeting has been called for next Friday amid plans to either refinance the agency, which has offices in London, Cambridge and Holland, or sell it.
Warman and Bannister, one of the UK's most famous advertising double acts of the 80s, created their agency out of the former Nicklin Advertising, in which they took a significant stake in 1991.
At the time, the pair's shared ambition was to have a European network in place within a minimum period of three years and to have built a 100 million [pounds sterling] business within five years.
The biggest triumph for Warman & Bannister was its capture of the Vodafone business, which it held for two years. In 1997 it relaunched with the intention of moving beyond its business-to-business ...
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