Red Cover: In the Red

Posted on 7/2/2008 by Julia Dudnik Stern | Printable Version | Comments (0)

U.K.-based Press Gazette reports that Red Cover, a London interiors, garden, food and lifestyle image agency, is in financial trouble. The agency has advised its contributing writers and photographers that it will not be paying them for up to two years. In a letter to one photographer, agency owner Sally Griffith confirmed the financial difficulties and attributed them to enormous expenses the company did not anticipate while building the business. Red Cover owes nearly £500,000, while its assets were substantially less than half this amount last March. An undisclosed new investor may help pay outstanding debt.

Copyright © 2008 Julia Dudnik Stern. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz


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