GRAND RAPIDS, MI: Failing direct-marketing catalogue company Foster
& Gallagher (F&G) has hired New York financial PR agency Gavin Anderson
to help it through what could be a messy bankruptcy.
One of Gavin Anderson's difficult tasks will be protecting the corporate
image of the troubled 50-year-old F&G, which filed for Chapter 11
bankruptcy protection on July 2 in a Delaware Court, and ceased
operations on June 29.
According to local newspaper reports, most of the company's 3,000
employees lost their jobs at the end of June.
Along with Gavin Anderson's entrance comes new interim CEO Lawrence
Adelman, who will serve until September. F&G's previous CEO Robert
Osterta resigned in June.
The initial terms have Gavin Anderson receiving a $50,000 fee and
a monthly retainer of $10,000. The agency is currently billing at
an hourly rate.
F&G currently uses Caughtery Hahn Communications, based in Glen Rock,
NJ, as its agency of record. President Lisa Hahn refused to give details
of the agency's relationship with the firm now that Gavin Anderson has