Recruitment Advertising Company Wound-Up

The Recruiter reports that an advertising recruitment company has been wound-up following an investigation by the Companies Investigation Branch (CIB) of the Insolvency Service.

The High Court in Manchester found that Fast Track Media, publisher of a medical recruitment journal, 'MRJ', was cold-calling NHS Trusts, private hospitals, charities and advertisers based overseas, who had already placed recruitment advertisements in established third party publications.

The investigation found that the company misled customers and pressurised them into confirming orders, that there was little commercial benefit to clients to advertise as the company website was not advertised, that there was a high level of unpaid invoices indicating advertiser dissatisfaction and that the company failed to keep adequate accounting records.

The winding-up order was made on 25 June following appointment of the Official Receiver as provisional liquidator on 2 May.