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Cash flow issues force digital agency closure

Date Added: 05/09/2013  

A digital agency based in the north of Scotland has revealed it is closing down as a result of cash flow management problems, but insisted it is not going into liquidation.

Aberdeen-based Deer Digital announced its immediate closure on Tuesday (September 3rd) in a blog post on its website. The firm said it was confirming the news in "deep sadness".

The company stated that it wanted to thank all of the suppliers that have worked with the business in the last few years, with any outstanding debts expected to be paid off.

"Without our family of exceptional developers, designers, strategists and managers we wouldn’t have been able to make the progress we have, in our few short years," the post said, adding: "As a management team we have always felt a responsibility to deliver a bright future to each of our team members and do the best we can by them - our present circumstances mean we can no longer deliver on this responsibility and have had to do what was always the unimaginable."

It was noted by the company that those at the firm are proud to have worked alongside the best digital talent in Aberdeen, while all team members at Deer Digital were described as "incredible".

Deer Digital revealed that it will be in touch with clients about their ongoing projects in the near future to discuss how they can be completed or wound down.

It was stressed by the business this is not a liquidation and the company is not in administration and the firm is being closed in a bid to avoid letting anyone down.

In a separate blog post, one of the staff members at Deer Digital revealed that the news the company is shutting its doors came out of the blue and with no prior warning.

"Some may feel anger, resentment, bitterness, mistrust, lack of hope for the future. I don't feel these things. I’m disappointed really," the former employee wrote.

Firms with cash flow issues ought to take business debt advice as soon as possible so that they can find a solution and ensure a brighter future for the organisation.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Miles Pritchard

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