UK PCO Contendam to Close After One Year in Business
Just over one year ago, following the Congrex breakup, Congrex Group COO Rob Harrison purchased the UK branch of the former PCO for an undisclosed sum and changed its name to Contendam.
Today, the year-old company announced that it would shut down—possibly as soon as tomorrow.
The company already lost Harrison last month, with Christian Olsen stepping in as CEO. Commercial director Caroline MacKenzie and MD Susan Hayden also departed in September, signaling major changes at the company.
"The owners have decided to put the company into voluntary liquidation," MacKenzie told IMR publishing partner MeetPie. "It’s been a choice rather than something they’ve had to do. It just seems terribly sad." Hayden, meanwhile, predicted that the business' final day would be Thursday.
When Contendam emerged from Congrex UK's ashes, the company said that it would retain all of the original business' existing staff and management team, and that all client contracts for events would remain with the new ownership. Today, 15 employees are expected to lose their jobs.
"All clients are now moving forward with new agencies," MacKenzie told MeetPie. "They’ve been able to get their assets from the company.”