PIXELBOARD PLACED IN RECEIVERSHIP
By Adnews Staff
The Pixelboard Network has been placed in receivership. The Toronto-based advertising company operated a national network of electronic message board signs. The receiver, BDO Dunwoody Ltd., took over on October 10, at which point the company's employees were terminated. Brian MacDonald, founder and president of The Pixelboard Network, said a concurrence of events over a period of four months led to the company's closing. Among them were the loss of some major sign locations, particularly the location on Yonge Street south of Bloor Street in Toronto. That board came down after Pixelboard lost a bid to keep the lease, MacDonald said. A replacement project that had been in the works as well as another potential three-year deal were both put on hold. MacDonald founded the company in 1983. In 1992 Stuart Brandy acquired a 50% share. Brandy retired last year, at which time MacDonald regained full ownership of the company.