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Phillips, Team & Myers will dissolve its operation and reform as The Phillips Agency in the wake of recent financial difficulties, a company representative said.
The legal move by the Fort Worth, Texas-based agency is designed to protect it from creditors. The shop is not currently involved in bankruptcy proceedings.
Phillips’ problems began about a year ago when one of the agency’s primary clients, Gravity, a supplier of legal software, declared bankruptcy. At the time, Gravity accounted for 35 percent of billings, according to agency president Randy Phillips.
“It was one of those things .
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