FKICP calls in receiver

Firbank Kempster Integrated Communications Partnership (FKICP) has been placed in managed receivership with debts of about £2.5m.

Firbank Kempster Integrated Communications Partnership (FKICP) has been placed in managed receivership with debts of about £2.5m. FKICP chairman Jerry Firbank denied the company’s future was in doubt after it pulled out of a pitch for BAE Systems last month (Marketing Event, October). The following day, FKICP, which is owned by March Communications Group, called in administrator Levy Gee. On 1 October, the business and certain assets of FKICP were then sold to a shelf company called Cat Barney, which is now trading as Firbank Kempster International. The debts have not been sold. FKICP’s major shareholder was Kevin Morley, the owner of exhibition stand firm TGA Chapman and furniture store DFS. Sources close to the company say Morley is owed about £1.3m, the bank’s debt is more than £800,000 and other creditors are owed in the region of £400,000. “Jerry is putting this down to bad luck. He claims he has a court case against a major company for non payment, which also caused problems,” one source said. “Owed creditors will have to rely on the outcome of this court action, the sale of an exhibition system developed by Sector Exhibitions, plus the monies from the sale.” One creditor said: “It’s an unfortunate state of affairs.” Firbank Kempster International is now a subsidiary of contractor ITEC Group Britannic, managed by Howard Burbage – a former director of March Communications. The contractor also owns Britannic Exhibitions. Burbage, Firbank and Morley were all unavailable for comment.

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