The principals of Jordan Azzam -- the defunct Baltimore advertising agency that closed in October -- have reopened a much smaller agency under the name Azzam Jordan & Geer.
Jordan Azzam, which once had $20 million in billings, closed unexpectedly in October, citing a bankrupt client as the cause of its financial woes
Based at the same 300 Cathedral St. location in Mount Vernon, the new firm has 16 clients and about $4 million in billings, according to the chief executive, Gary Jordan. Azzam Jordan is being retained by eight of those clients and is doing projects for eight others, he said yesterday.
Although he declined to provide a detailed list of the new firm's clients, Mr. Jordan said two retaining the firm are Bethesda-based Winchester Homes and the Omni Inner Harbor Hotel.
The $1 million Winchester Homes account makes up the bulk of the new firm's billings. The account, which was with the defunct Jordan Azzam firm before it shut down, will be up for review by the homebuilder this month, and Mr. Jordan said Azzam Jordan stands a chance of losing the account at that time.
Besides Mr. Jordan, the principals of the new firm include Eugene Azzam, chairman and creative director; and Richard Geer, a graphic design expert, vice president.
When Jordan Azzam closed last month, it blamed its problems on the bankruptcy of client Stansbury Stereo.
According to Stansbury's filing in bankruptcy court, Jordan Azzam is owed $85,000, but Mr. Jordan said yesterday the amount was "more like six figures."
Jordan Azzam filed for a state bankruptcy, which bypasses federal court and is a quicker procedure.
Mr. Jordan said he has learned his lesson from that experience, adding that as soon as the new Azzam Jordan gains enough capital it will buy insurance to protect itself from client losses.