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Yellow M to shut after management buyout attempt fails.(Brief Article)
Yellow M in Edinburgh looked set to fold on Wednesday 5 June with the abrupt resignation of the company directors following a failed attempt to orchestrate a management buyout.
The management buyout team was headed by the agency's managing director, Ian Wright, who yesterday left the agency alongside its head of account management, Jill Taylor, and the creative heads, David Isaac and Kevin Bird.
Wright warned: 'An integral part of our strategy was to ensure that all our creditors were paid in full. However, this is now highly unlikely.'
Wright, Taylor, Isaac and Bird are believed to be setting up a new agency.
Wright said: 'That's probably correct. We've got plans in place.'
The directors left after their failure to agree the terms of the management buyout with Mike Dethick, Yellow M's founder. Buyout discussions ...
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