The agency, which was set up by former Retail Jeweller editor Sarah Carpin in 2011, employed nine people. It was based in Shoreditch, and counted jewellery brands Yoko London, Astra and Savage & Rose among its clients.
In December 2017, W Communications acquired an unspecified minority stake in Facets. A Statement of Affairs published by Companies House reveals that stake to have been a 10 per cent share – Carpin held the remaining 90 per cent.
According to Companies House, W founder and CEO Warren Johnson's appointment as a director of Facets Communications Limited (the company’s legal name) was terminated on 29 August 2019, before the business appointed a voluntary liquidator on 2 October.
The statement shows Carpin’s firm as owing more than £51,000 to employees in redundancy and notice pay, and £6,715 in employee arrears and holiday pay.
It also owes more than £85,000 to trade and expense creditors, including W, plus more than £28,000 in PAYE and £25,000 in corporation tax.
Johnson told PRWeek: "W is very disappointed with this situation. We obtained a small number of shares, several years ago, in Facets to help with the transition of their business from the previous holding company to founder ownership. However, we’ve not worked with Facets for well over a year and remain one of the main creditors to the business."
Carpin did not respond to PRWeek's request for comment.