I-Level, one of the UKs largest independent digital marketing agencies, has gone into administration after losing a large contract for government advertising. It is estimated that around £40m, or two-fifths, of I-Level’s revenues came from the Central Office of Information until earlier this year. However, despite teaming up with media agency Starcom to tender for […]
I-Level, one of the UKs largest independent digital marketing agencies, has gone into administration after losing a large contract for government advertising. It is estimated that around £40m, or two-fifths, of I-Level’s revenues came from the Central Office of Information until earlier this year. However, despite teaming up with media agency Starcom to tender for the renewed contract in February, the COI awarded its business to WPP’s GroupM.
The agency, led by co-founder Andrew Walmsley and group chief executive Stephen Rust, has now called in Zolfo Cooper as administrator after suffering cashflow problems resulting from the loss of the contract. The administrators hope to sell the business as a going concern.
5/5/2010
Alastair Beveridge, of Zolfo Cooper, said: “The joint administrators will be fully assessing the business, before gauging interest in the company … Of course, our priority will be to secure the best result for the company’s creditors.”
I-Level was founded in 1999 by Andrew Walmsley and Charlie Dobres, and its staff roster has grown to around 120.
In spring 2008 I-Level sold a 60 per cent stake to ECI, a private equity group, in a £45m deal.
I-Level’s clients included Procter & Gamble, The Sun, Orange, Sky, Fidelity, Macmillan, Renault Comet and Samsung, running a range of online campaigns including display ads, search marketing, social media and mobile marketing.
www.i-level.com
