The London-based experiential agency becomes the latest victim of a downturn in the sector, and Jacobs sent Event the following:
"Fitch Live will cease to operate in June. Live has delivered exemplary work over the last few years. It employs a talented team but unfortunately the revenues have not been sufficient to support the entity for some years."
There had been some confusion over the future of Fitch Live's sister agencies, but that was also ironed out by the statement:
"You should however be clear that Fitch Live is not Fitch London. Fitch Live is a company within a much larger group which includes Fitch London and other offices in seven countries. As such Fitch remains a vibrant and thriving global design network which continues to grow clients and win awards all over the world. We will continue to invest in this, our core business. Similarly Fitch London remains very firmly open."
Employees were informed earlier this week.
Fitch Live had been making losses for a few years, and it seem Marin Sorrell's markeing giant WPP was unwilling to suppoort it any longer.
20 staff work at the agency.
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