Mazars appointed administrator for Leeds marketing agency

06 January 2022 Consultancy.uk 1 min. read
Profile
More news on

Professionals from Mazars have been tasked with the administration of Banana Kick. The firm fell into insolvency at the end of 2021.

Founded in 2008, Banana Kick was a marketing agency which previously worked with a host of recognisable brands. Among its clients were Decathlon, LNER and the Grand National, while more recent projects also saw the firm install a successful dinosaur trail around Leeds city centre.

The firm was co-founded by Nick Goring and Gary McCall, and at its peak it employed 43 staff with a turnover of £4 million. However, recent times saw the firm adapting to a number of major changes – including the exit of Goring in 2017.

Mazars made administrator for Leeds marketing agency

McCall became the majority shareholder and headed up its parent operation, Banana Kick Group. However, over recent years, the company’s borrowing ramped up as it appeared to enter difficulties amid the pandemic in particular. According to the most recently filed accounts for Banana Kick, its bank borrowings reportedly jumped from £5,453 in 2019 to £100,000. The borrowing was secured "by way of fixed and floating" charges over the assets of the company.

Now, the firm has finally gone into insolvency processes, with staff initially finding out in December. Following the news, a LinkedIn post from Senior Designer Felicity Ann Clark noted, “I’ve made friends for life and had some of my happiest memories with the team, to say we’re all devastated is an unbelievable understatement.”

Julien Irving and Patrick Lannagan of Mazars in Manchester have been appointed to oversee the sale of the company’s assets. The firm’s website and social media have been taken offline, while the company has also ceased trading.