THE future of Edward Briscoe Design was in turmoil this week as founder Ted Briscoe resigned as chairman and moved its former parent company into liquidation.
Briscoe says he and finance director Roger Marsden made the decision to resign with deep regret. Having sold EBD to Mainline Promotions in November to guarantee its financial security, he says the support from the new company has been insufficient.
In a statement Mainline says the resignations followed the EBD board’s announcement of an investigation into alleged gross misconduct, although Briscoe says this is a “tit-for-tat” response to a writ he has issued against Mainline regarding the sale.
The former parent group of EBD, Edward Briscoe International Group, was placed in liquidation by Briscoe last week because of mounting financial trouble. A creditors’ meeting is scheduled for Friday 12 March.
Mainline says all senior staff at EBD except Briscoe and Marsden remain, with no job losses contemplated.
The statement continues: “The company is confident of a bright and exciting future, having gained significant new business.”
A defiant Briscoe says: “Both Roger and I wish to express our immense remorse to those adversely affected by events.”