Hasta La Creative!

Businesses in all sectors are struggling in today's tough economic climate. The retail industry looks particularly grim. AlixPartners, a Michigan turnaround-consulting firm, estimates that more than a quarter of all large retailers are at significant risk of filing for bankruptcy or facing financial distress.

So in the spirit of winning the diversity war, here are five things advertising-agency-holding-company CEOs can do to handle this diversity business overnight.

LONDON – HomeForm, the parent company of Sharps bedrooms, Kitchens Direct, Moben kitchens and Dolphin bathrooms, has formed a shortlist of agencies to pitch for its £15 million integrated advertising account.

The dilemma for established companies is that to succeed in the face of a disruptive technology, they will have to let go of the products and business models that made them successful so that they can start to develop the next generation of innovative products.

LONDON – Playboy UK has relaunched its website as an ad-funded model and made the bulk of its content free to users.

LONDON – Creative services agency Grand Visual has been announced as a sponsor of the upcoming DOOH Media Summit, in association with Media Week.

LONDON – Kofi Annan, the former secretary general of the United Nations and president of the Global Humanitarian Forum, has signed up to speak at the 2009 Cannes Lions.

LONDON – Drinks manufacturing giant Anheuser-Busch is attempting to extend its payment period for its media suppliers to 120 days, as opposed to the standard 30 days in the UK.

LONDON – YouGov has been in talks with private equity investors about a possible management buyout, according to a report in The Daily Telegraph.

LONDON – WPP-owned insight provider the Kantar Group is restructuring following the £1.9bn acquisition of research outfit TNS last October by WPP.