New York ad agency Ally & Gargano is about to shut its doors after 33 years in business, sources close to the agency say. Sources say many of the agency's 250 employees already have been let go. Those employees still at the office were all in a staff meeting at 3:30 p.m. Tuesday. Executives from the agency, including CEO Bill Luceno, would not return phone calls. Ally has been hit hard by account departures this year, losing its $15 million Bank of New York account, its $40 million Dunkin' Donuts account and its Newport cigarettes account. Those and other smaller losses cut heavily into Ally's $280 million in annual billings, creating huge debts for the agency. "It's over. There's nobody there, and there are no accounts left either. The people who are there aren't getting paid," said one former staffer.
Copyright July 1995 Crain Communications Inc.