Worcester Advertising Firm Folds
Reaction Advertising, a Worcester-based advertising firm founded by Russ LaFlash in 2002, has shut its doors.
When reached for comment yesterday, LaFlash declined to go into detail about the firm's closure, saying only that "many factors" contributed to its undoing.
The agency reportedly shut down in August. Earlier in the year, the company, which had 12 full-time staff members, ranked 10th on the Worcester Business Journal's list of top advertising and public relations firms. (This list is ranked by number of full-time staff).
The news took at least one local advertising executive by surprise.
"Nobody likes to hear somebody in their own industry closing up," said Warren Palley, president of Worcester-based Palley Advertising Inc. "It's not good for anybody."
Palley pointed toward the current economic crisis as a reason why every business owner should remain aware of his or her market.
"In times like this, there's always opportunity," he said. "The world hasn't stopped. And there are studies that have shown that during economic downturns and recessions, companies that keep their awareness going will do much better during the recovery."
It's a lesson Palley learned firsthand. He founded his own company amidst an economic crisis during the early 1980s.
"Past experience teaches you," he said. "If you haven't been through it before, it's a very tough thing to get through."
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