Liquidators appointed to all Wallace Barnaby Associates Group companies
Adrian Rabet and Alan Roberts, of Begbies Traynor (Channel Islands), who were appointed as joint liquidators of Guernsey-based Wallace Barnaby and Associates Group on Friday 24 October have today confirmed that all the Group’s companies are likely to be liquidated.
Wallace Barnaby and Associates Group was established in 1984, extending its operations to Jersey in 1988.The Group, which at its height was the largest offshore marketing and advertising agency in Britain, comprised of four operating companies, Wallace Barnaby Associates (Jersey) Ltd, White Knight Ltd, Campaign Management Associates Ltd (CMA) and WB Outsource Solutions Ltd.
Adrian Rabet, of Begbies Traynor, the UK’s leading business rescue, recovery and restructuring specialists, commented: “The Group placed itself in voluntary liquidation under the Companies (Guernsey) Law 2008 because it was unable to meet its debts as they fall due."
“We can now confirm that this has impacted all the companies within the Group and those which have not yet entered liquidation will do so shortly. This will bring two additional redundancies – the remaining members of the Group’s staff based on Jersey – sadly bringing the total to 29 across the Channel Islands.”
The team from Begbies Traynor is continuing its investigations into the reasons behind the failure of the business and taking steps to meet the group’s liability to creditors.
Recent comment in the press by interested individuals should not necessarily be taken as statement of fact and the liquidators will investigate all matters of concern brought to their attention.
For further information please contact Adrian Rabet or Alan Roberts, Begbies Traynor, 01481 728447
