City agency Binns & Co goes into administration

Binns & Co has gone into administration, triggering a scramble to pick up its former clients.

Parkgreen Communications has acquired Binns’ computer equipment, desks and files, and taken on ‘around 15’ of its clients.

According to sources, Binns & Co owed HM Customs and Revenue £400,000 on the Pay As You Earn (PAYE) system. PRWeek understands the agency negotiated a £10,000-a-month payback scheme. But it is understood to have defaulted on a payment, resulting in the arrival of administrator HW Fisher.

Parkgreen confirmed that it was working for ex-Binns clients water-treatment firm Filtronics, Renewable Energy Holdings and mobile-content firm Blue Star Mobile. Scottish investment management property firm Dunedin is one client thought to have gone out to tender.

Parkgreen said it had entered into an option agreement to acquire Binns last November but pulled out of the deal earlier this year. Binns eventually went into administration on 27 April, with some assets being sold to Parkgreen in late May.

Peter Binns, who set up the agency in the mid-1990s, is believed to be working out of Parkgreen’s offices.

He was unavailable for comment as PRWeek went to press.

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