$4 million marketing agency 30thirty collapses into administration

A marketing agency which represented well-known businesses including Everready, Adriano Zumbo, Magnum, Nikon and Schick has collapsed into administration.

Read more: Six warning signs your company may be on the verge of collapse

30thirty was founded in 2001 and billed itself as a “multi award winning integrated marketing agency”.

Its services included marketing strategy, social media, photography, art direction, licensing and sponsorship.

The business had turnover last financial year of $4.4 million but it ran into trouble, with Kathleen Vouris and Blair Pleash of Hall Chadwick appointed as administrators this week.

Vouris told SmartCompany creditors are owed around $670,000.

“We are still assessing the financial position of the company but obviously the goal of an administration is to see if a restructuring process can be put in place,” she says.

30thirty’s remaining 10 employees were already let go prior to the appointment of the administrators.

Vouris says cash flow was the major issue behind 30thirty’s collapse.

The administrators are “exploring all the options” including a potential sale of the business.

“We just need to get our heads around the financial position,” Vouris says.