Eisner Communications Inc., a former media power player in the Baltimore-Washington advertising arena, has closed.
The company apparently imploded from the weight of lost contracts and unpaid vendor bills.
Abe Novick, an Eisner vice president, did not return telephone calls seeking comment.
The agency?s lawyer, James B. Astrachan, said he has not seen lawsuits that reportedly have been filed by three vendors claiming unpaid invoices. But, he said, the fact that Eisner has closed will not prevent unsecured creditors from filing claims.
“In a general sense the people who are bring lawsuits can continue to bring lawsuits,” Astrachan said. “The closing of a company doesn?t stop that. [The company] goes through the process of gathering assets in an attempt to pay its debts. People who bring lawsuits are unsecured creditors who want to get to the head of the line in making claims.”
Last month, Eisner and GKV Communications Inc. were considering a possible merger, but Astrachan said the deal is off.
“There is no merger,” he said. “I can?t comment on what happened to that deal.”
About 50 Eisner employees are out of work, Astrachan said, though some have gone to work with GKV. Astrachan also is the lawyer for GKV.
Roger Gray, chairman and chief executive at GKV, cold not be reached for comment.
“Eisner has tried to transition some employees over to GKV, and I don?t know what the status of that is,” Astrachan said.
