End of the line for Marakon

Published: Jun 11, 2009

Topics: Consulting       
Look who's positioning themselves to come roaring out of the recession. It’s CRA International, which announced yesterday that it had agreed an undisclosed fee to cart away the remnants of troubled Marakon Associates. Formerly something of a powerhouse among boutique firms, Marakon specialized in providing consulting services that created long-term value for clients. Founded in 1978, the firm ran into difficulties following an ill-fated merger with financial advisory IFL in 2007. While the intent of that deal had been to capitalize on the booming market for financial services consulting, the economic downturn evidently took its toll: Marakon and IFL split in early 2009, filing for bankruptcy protection in the process. <p>In picking up what remained of the firm, CRA has gained a foothold in two new markets—New York and Chicago—as well as increased its presence in London. The press release from CRA states that the firm is seeking to keep as many as 50 of Marakon's consultants, placing them within a new practice headed by former Marakon Chief Executive Mason Kissell. The firm didn't offer any comment, however, on how many consultants Marakon actually had, or on the fate of any of its three existing offices.<p><i>--posted by Phil Stott</i>