Troubled Wems merged with CI

Wembley is merging its ailing event management business with

Corporate Innovations (CI), the live events consultancy it acquired in

October.



Wembley Event Management Services (Wems) was set up in October 1999 with

a staff of 26.



'It was a big investment and plans for the company were ambitious. The

backing didn't materialise and like so many start-up companies, it just

didn't turn out the way everyone envisaged,' one source close to the

company said.



The eight remaining staff at Wems are waiting to discover which of them

will re-locate to CI's offices in Banbury when the merger is completed

in July. 'We haven't finalised the number of staff we will be taking

because there is some duplication,' CI managing director David Watts

said. 'Wembley had always planned to bring the two companies together

under the CI name but the business synergies and predicted cost savings

has meant this process will happen faster than originally planned.'



Bringing the merger forward from its October 2001 date is also thought

to have been prompted by the departure of former Wems managing director

Peter Linnell, who left the company earlier this year.



The company web site says Linnell is still with the company, along with

a team of 20 which includes a 13-strong operational team.



Wems managing director Sarah Arnold and finance director Bernadette

Williams were unavailable for comment.




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