A TEAM of former Wallace Barnaby Group PR and advertising staff has formed a new company.

THE liquidators of Wallace Barnaby are doing their best to make sure major events go ahead.

THE demise of advertising firm Wallace Barnaby does not signal a decline in the local marketing profession, according to one industry practitioner.

AN ANNOUNCEMENT is expected today from the liquidator of advertising and marketing group Wallace Barnaby and it is hoped that it will shed some light on the size of the debts it has left behind and the number of creditors looking to get their money back.

FOR a company that was so bullish about the positive benefits of acquiring local advertising and marketing leader Wallace Barnaby just two years ago, Ekay plc was surprisingly reluctant to discuss yesterday what really led it to close the operation with the loss of 30 jobs and an as yet unknown number of creditors.

WALLACE BARNABY’S new owner just ‘washed its hands’ of the Guernsey company, according to one of its co-founders.

FOR islanders worried about global events and the news that the UK is about to enter a recession of unknown severity and length, Friday’s shock announcement that advertising agency Wallace Barnaby was going into liquidation could not have come at a worse time.

FORMER directors of Wallace Barnaby have said they are ‘gutted’ by the decision to liquidate a company they believe could have been saved.

THE former co-managing director of White Knight PR has revealed he had no idea that the company was going under.

ABOUT 30 people lost their jobs yesterday when marketing and advertising firm Wallace Barnaby went into voluntary liquidation.