London-based telephone fundraising agency Listen Ltd has announced its closure and entered administration.
In a statement, Listen said the decision followed a number of years of challenging trading, and that all possible routes for continuing had been explored including attracting outside investment and widening the agency’s offering.
The decision follows its move earlier this year into a company voluntary arrangement in an attempt to help it pay off debts.
“It has become clear that the business cannot continue to operate in the current market. The only responsible option left to the directors is to put the company into administration and maximise the financial return to our creditors.”
Listen also confirmed that no money is owed to its charity clients, and that it would be working to return all data to them over the coming days and weeks.
Listen employed 106 staff, and had raised over £250 million for its charity clients in the ten years since it was founded.
The statement said:
“We’d like to thank our clients, our dedicated and skilled management team, and the thousands of fundraisers who have walked through our doors in the past decade for everything they have done to make Listen the friendly, supportive and collaborative environment that it was. It is this attitude and environment that has allowed Listen to raise well in excess of a quarter of a billion pounds for charities large and small across the past ten years, and we’d like to thank our charity clients not only for their custom and their loyalty, but for the opportunity for everyone at Listen to play a significant part in leaving the world in a better place than we found it.”
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