EXCLUSIVE: After a last-ditch attempt at restructuring that was ongoing as recently as last week, longtime Hollywood marketing and branding agency The Cimarron Group is closing its doors altogether. This just in from Cimarron CEO Bob Farina: “It is with much regret that I announce the closing of Cimarron Group. I want to thank the incredible executive team and staff that has served this agency with their creativity and dedication. Over the past thirty-three years, our clients have meant everything to us and we appreciate all of them beyond measure.” Sources tell me contractors and vendors have gone unpaid for months without relief from the troubled company which started out specializing in movie trailers and ad campaigns and also offered theatrical, broadcast, in-home and home video/digital services. Cimarron had also attempted to branch out into consumer branding, resort hospitality, and location-based live entertainment services with clients like Feld Entertainment, MGM Grand, and Cirque de Soleil. Cimarron’s theatrical and digital studio campaigns include Fox‘s Ice Age: Continental Drift, Disney-Pixar‘s Brave, and Universal‘s Les Miserables and Snow White and the Huntsman. Recent contracts like Marvel‘s 2014 Marvel Universe Live touring show will return to clients during Cimarron’s transition.
I hear the sudden closure went down after a financing deal in the restructuring process fell through. And in recent months sources say Cimarron employees have departed en masse, some walking off the job after checks didn’t come through and others heading for greener pastures at rival companies like Buddha Jones. The company based in Hollywood had approximately 120 employees on its payroll. One insider estimates 80% of Cimarron’s staffers were already gone by the time Farina threw in the towel today. Last summer SAG-AFTRA tsk-tsked Cimarron for defaulting on payments to performers as well as contributions to pension and health plans in a dispute that briefly called a work stoppage for union members on Cimarron projects.