This is confidential and not to be published.
Is the lead-in to an email I received last night from my biggest advertising companies President that will, for the time being, remain nameless. The email goes on to state that the company are going out of business and that they need to negotiate with their creditors and advertising publishers (of which I am) to settle all accounts.
The email goes on to say that I will be lucky to get paid 10% of what I am owed and that the balance will and I quote “have to be forgiven”. Fair enough if we are talking about pennies but we’re not. It’s thousands of dollars.
Mr President asks if this 10% payment is acceptable and offers a pipe dream of working with him again in the future. I’m at a loss as to what to do, does accepting the 10% waive any right I have of trying to receive the other 90%? Do I have to fight this to the death? There is a contract, but they are in the States and I am in the UK and I am not sure what my rights are. Any help or advice?
What is also strange is, as of yet, I haven’t heard much else on the web about this company going belly up and I can’t seem to get in contact with either of my Campaign Managers at said company for confirmation. It all seems a bit sudden and I’m slightly worried.
Update: I received a follow up email today from my Campaign Manager who must have CC’d his boss, from whom I later received an email stating that the Company is closing their doors but that the email was sent to me in error and I will be paid 100% of the monies owed. Thank goodness for that.