Courts financial collapse ends £20m advertising pitch

LONDON - Courts, the furniture retailer, has gone into administration, bringing a dramatic end to the review of its £20m advertising account.

M&C Saatchi, HHCL Red Cell and Grey London were expected to pitch for the account in January after being shortlisted by marketing chief Mike Ryan, following a review out of RPM3.

Courts went into administration on Monday and immediately shut its 100 UK stores. Its shares, which had plunged to an all-time low of 13.5p, were suspended on the London Stock Exchange as the banks pulled the plug on its £280m debt after attempts to restructure it had failed.

The company, renowned for its mid-90s ad campaign starring gameshow host Bruce Forsyth, was aiming to rejuvenate the 150-year-old brand in the UK and had been rolling out a revised logo across its stores.

RPM3 was working out its notice period on the account, which was due to come to an end in January. It was handling creative work for Courts' national press advertising. RPM3's chief executive Martin Butler said that there was no financial loss to the agency and there would be no redunancies.

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