Another major American auto manufacturer has filed for bankruptcy, and another group of large agencies could be left out to dry on millions still owed for previous work. In General Motors Corp.'s bankruptcy filing, it listed two agency holding companies that are owed $166.5 million collectively, Ad Age reports.
Paired together, the agencies rank among the automaker's 50 largest unsecured creditors. Publicis Groupe's Starcom MediaVest Group, sixth on GM's largest creditor list, is owed $121 million. GM also owes the parent company, Publicis, $25 million.
Interpublic Group, 20th on the list, is owed $15.9 million, and Interpublic's McCann Erickson is owed $4.6 million.
When Chrysler filed for bankruptcy exactly one month ago, it reported owing Omnicon Group's BBDO $58.1 million.
