Advertising industry and media sources said local newspapers were turning down advertisements from IY&R due to its huge debts to the industry.
“The whole industry is owed money from the ZANU PF adverts,” an official from one newspaper group said.
The involvement of IY&R in Mugabe's campaign had resulted in global ad agency, Young & Rubicam (Y&R) selling it's 25% stake in the Zimbabwean company, demanding IY&R drop Young & Rubicam from it's name.
IY&R has not yet officially rebranded to drop the name.
Industry players said IY&R had been deserted by most of its major clients, who were now booking their advertisements through other agencies.
“They have lost key staff as a result of this development, among them Sapi Bachi, the MD, Jacky Ndlovu, the client services director. Their media manager also left in a huff,” an insider said.
Efforts to contact CEO, Sharon Mugabe were fruitless as the company's phone numbers went unanswered. The company was reportedly moving from its spacious offices in Harare's northern suburbs.
