Webtise goes into administration a year after ‘rapid growth’

Webtise, the Wirral-based digital marketing agency, has gone into administration.

Cowgill Holloway Business Recovery’s Manchester office were brought into the company on May 26.

Only a year ago, the company secured a £350,000 working capital facility from Barclays to support “rapid growth”.

Just months earlier Webtise acquired app developer Apposing for an unknown fee.

Chief executive Justin Young and his fellow director Graham Withe have meanwhile set up new company We Influence, badged as an “advertising agency”. It is registered to Riverside Park, Marwood House – the same address as Webtise.

In a statement Webtise said the increasingly challenging development landscape and a significant loss as a result of a strategic partnership meant the difficult decision was taken to place Webtise into administration.

Withe said: “The last few months have been very difficult. We invested heavily into a strategic partnership which unfortunately ended up putting undue financial pressure on the business. This meant we had to make the difficult decision to put Webtise into administration.”

Young said: “This was an incredibly difficult decision to make and unfortunately some fantastic people have been made redundant as a result.

“This was a decision that Graham and I made with a very heavy heart. While we are looking forward to the future with WeInfluence, this is of course tempered by the sadness that has come with placing Webtise into administration.”

Webtise has a headcount of 67 and claims Playstation, Jaguar/Landrover and McDonalds among its customers.

Cowgill Holloway have been contacted by TheBusinessDesk for comment.