The decline of indie agency Madwell––documented by ADWEEK following a multi-week––has been marked by legal drama, extravagant expenses, in-office confrontations, and consistently delayed pay to vendors and employees under the leadership of CEO Chris Sojka.
Now, some employees who are still owed paychecks due March 15 are considering tapping an employment attorney to help them.
A Madwell spokesperson shared a statement with ADWEEK Wednesday that, like Sojka’s previous statement, blamed the company’s financial situation on his cofounder and former business partner David Eisenman. Sojka and Eisenman settled a messy lawsuit over finances and control of the agency in October 2024.
“While Madwell’s former partner has made many baseless accusations against our current CEO and our organization, our primary focus remains on stabilizing the business,” the statement read. “This includes ensuring the compensation of our employees and vendors, and continuing to deliver exceptional work for our clients.”
The statement also noted that Madwell has enlisted the help of a forensic accountant to assess the “financial damage” it attributed to Eisenman.
In case you missed it, here are the five most eyebrow-raising details from ADWEEK’s investigation into Madwell’s cultural and financial health under the leadership of CEO Chris Sojka.
1. The $17.5M private jet
Sojka took out a loan to buy a $17.5M private jet in September 2024, according to documentation obtained by ADWEEK. The 11-seat 2009 Dassault Falcon 7X was purchased at a time when Madwell was already consistently failing to make payroll on time and had begun to default on pay due to vendors as well, according to multiple sources.