A story published today in the MediaPost Agency Daily newsletter (and yesterday on the MediaPost website) incorrectly reported that ad agency Kovel Fuller, based in Culver City, CA, had shut its doors.
CEO John Fuller, who was not contacted for the incorrect story, confirmed today that the agency gave up the lease to its physical offices in Culver City effective Aug. 1, but stressed that the agency is operational remotely and serving clients like Yokohama tires and web and mobile design company Owning.com.
Attempts were made to contact the agency through its office number which was disconnected and an email address on the agency website for the original story, which was confirmed by multiple sources, who as it turns out, were wrong.
“We’re still in operation, still serving clients and still paying our employees,” Fuller said, noting that part of the reason the firm gave up the lease to its physical space was to be able to continue to do just that. He noted that the Culver City Office building had recently changed hands and that the firm’s property taxes increased exponentially.
Fuller also stressed that KF’s situation is in “no way, shape or form” like the Palisades Media Group situation which suddenly closed its doors.
And regardless of its future direction, Fuller said the company will “not ever” file for Chapter 11 bankruptcy.
That said, Fuller has discussed the possibility of retiring and winding down the operation some time after the end of 2022. “Who knows what the future will bring,” he said. “It’s not a certainty.”
He noted that he has kept employees “in the loop” and made a commitment to keep on all employees “at least through the end of the year.”
But, he noted, “it has not been a great couple of years,” given the pandemic and its impact on the economy.