Chris Garret, the CEO of Performancing after Nick Wilson resigned recently, has announced the closure of Performancing Partners. He announced the closure by saying:
I'm sad to tell you that Partners has to close. While I have every faith it could have worked, it wasn't going to happen fast enough. Without more money invested it wasn't going to happen at all.
One of the comments to the post is by Nick himself. He commented that:
That's a dreadful waste. For want of a few grand…
A few weeks back, there were some options lying around. Not easy ones, but ones that would have allowed partners to continue, can those not be re-explored rather than see this happen?
Now his "few grand" solution has drew flak from other commenters. But Nick has never been the cold shouldered guy for Performancing or Chris. In his farewell post he had said:
The decision came about as we were planning our strategy for 2007. I came to the realization that I'm simply not the best person to lead Performancing in 2007. Furthermore, the best person to do this was already with us.
We went through a few of Chris' plans for the firm this morning, and I wasn't disappointed – what Chris has in mind just confirms my conviction that he's the right man for the job.
However, the news came as a shock to almost everyone. Performancing was making news and I though it was making money too.