Here’s a little blurb for you — Business Insider put together a listicle of companies that for one reason or another are nearing bankruptcy.
As one of the largest advertising and marketing companies in the world, IPG was slammed by the global recession.
As the company’s CEO said during recent second quarter results, the downturn ‘is proving steeper and more lasting than expected’.
Revenues have fallen double digits and the company’s exposure to General Motors as its largest client hasn’t helped.
BNET’s Jim Edwards notes that IPG is hoping for nominal margins in the next year — hardly a nail in the coffin. The company’s stock is doing so so, and some seem to think it will continue to rise — but let’s not forget IPG’s Q2 downshift, which amounted to 20% revenue fall.
And lest you’d forgotten, here’s a list of some of IPG’s more prominent agencies/firms.
— TM Advertising
— Campbell Mithun
— Carmichael Lynch
— Deutsch Inc.
— Hill Holliday
— Kaleidoscope Sports and Entertainment
— Lowe Worldwide
— McCann Erickson
— Momentum Worldwide
— MRM Worldwide
— Reprise Media
— The Martin Agency
— Universal McCann
— Weber Shandwick
More: “IPG Reports Q2 Profit Slide”