Simon Burrett, former managing director of The Foundry.
MELBOURNE: The Foundry Pty Ltd, which previously traded as creative agency The Foundry, has been placed into voluntary administration after the business was acquired by rival independent agency Smart.
On 16 June, AdNews reported The Foundry would cease trading under its current name as part of its integration into Smart’s Melbourne and Sydney offices.
Simon Burrett, former managing director and co-founder of The Foundry, who has joined Smart as managing director confirmed that the decision to go into voluntary administration was made on Monday (28 June), with administrator Rodgers Reidy appointed today (1 July).
Burrett said The Foundry chairman Ron Parker would retire after 40 years in the industry.
Smart CEO, Ben Lilley, told AdNews the agency will handle The Foundry’s stable of clients including Barbeques Galore, Dick Smith Electronics, Stihl, Oporto and Scania Trucks.
“Part of the terms of the takeover was that the company would be wound up by the directors and shareholders of The Foundry and that is the process they are now going through.
“As far as The Foundry clients and staff are concerned it is business as usual. Our takeover model is the same…