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Concept Marketing becomes latest casualty in UAM debacle
Concept Marketing, one of Cape Town's oldest ad agencies, was forced to lay off at least 30 people last week as it could no longer afford to pay their salaries. Concept Marketing was majority-owned by Union Alliance Media (UAM), a media group suspended from the JSE following the withdrawal of its FirstRand overdraft facility. UAM, owing FirstRand R45-million, was put into liquidation, putting the surivival of some of its subsidiaries in doubt.
