Phoenix-based Arvizu ad agency files for Ch. 11

So, They finally went public with the news that all of us already new;

Phoenix-based Arvizu ad agency files for Ch. 11

Money

Phoenix-based Arvizu ad agency files for Ch. 11

by Andrew Johnson – Jun. 28, 2009 12:00 AM
The Arizona Republic

Arvizu Advertising & Promotions Inc., a Phoenix-based ad agency well-known for its work marketing to Hispanics, filed for Chapter 11 bankruptcy protection on Friday.

The company’s client roster has included McDonald’s, Wells Fargo, Salt River Project and Bashas’ Food City, and its campaigns have garnered local and national industry kudos.

Ray Arvizu, who started Arvizu Advertising in 1991, said the company has been affected by lower spending among clients.

Under Chapter 11, a company continues operating while it devises a plan to pay creditors.

Arvizu’s creditors include CBS Outdoor, Clear Channel Outdoor and several broadcasters.

Marketers have been hit hard by lower spending by businesses and a decline in print and broadcast advertising.

“All of us have been hit with clients who are either pulling back or delaying in paying,” said Sheila Kloefkorn, past president of the American Marketing Association’s Phoenix chapter.

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One response to “Phoenix-based Arvizu ad agency files for Ch. 11

  1. It’s difficult to see other agencies file for Ch. 11 or make drastic staff cuts. It is indicative of our times and serves as a warning to us all.

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