Springer & Jacoby faces the end
The former advertising giant Springer & Jacoby is on the verge of collapse. Lutz Schaffhausen's own advertising and communications agency, Schaffhausen Communication, appears to be unaffected by the Hamburg-based agency's bankruptcy.
The agency management around Lutz Schaffhausen has filed for insolvency for the advertising agency and the digital subsidiary at the Hamburg district court. These are the last two remaining parts of what was once the most important creative forge on the German advertising scene. Together with lawyer Wolfram Dabow, agency head Lutz Schaffhausen had spent months trying to find an investor for S&J.
Schaffhausen took over S&J in 2006. He reduced the workforce by around 300 employees and restructured. Many creatives left, some came back later. The agency slipped into insolvency due to the loss of a number of clients, mismanagement and the exodus of creative staff.
A catalog of comments on the insolvency of Springer & Jacoby can already be found on Wuv.de. There is talk of S&J as the "cadre forge that produced all the great advertisers", of "the parent forge of the industry" and of the fact that the agency "lost what once made it so strong years before it became insolvent: Its culture and its culture bearers".
Schaffhausen took over S&J in 2006. He reduced the workforce by around 300 employees and restructured. Many creatives left, some came back later. The agency slipped into insolvency due to the loss of a number of clients, mismanagement and the exodus of creative staff.
A catalog of comments on the insolvency of Springer & Jacoby can already be found on Wuv.de. There is talk of S&J as the "cadre forge that produced all the great advertisers", of "the parent forge of the industry" and of the fact that the agency "lost what once made it so strong years before it became insolvent: Its culture and its culture bearers".
