Belgiovane Williams Mackay has pulled out of the pitch for Virgin Blue's $50m creative account, leaving five agencies in the running for the business.
The Photon Group-owned agency was shortlisted along with SapientNitro, Droga5, Clemenger Group, DDB, and Photon Group's BMF, as reported by AdNews earlier this week.
Chief executive of BWM, Paul Williams, told AdNews the agency is "extremely busy with new business and flat out busy servicing existing clients".
The decision comes just days after the agency's troubled owner Photon announced a $90 million write down and a restructure that will see the group's agencies organised into three division. At the same time executive chairman, Tim Hughes, is to step down.
Given that Photon is under financial pressure, some have suggested that it is too costly for two of the Group's agencies to be pitching for the same business.
Virgin Blue spokesman Colin Lippiatt confirmed that BWM had pulled out.
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