London-based marketing agency Rapier - whose client base includes the likes of Yell, Travelodge and the RAC - has gone into administration.

Insolvency and recovery firm, FRP Advisory, announced yesterday that the 24-year-old firm's administration would be conducted by partners Jason Baker and Geoff Rowley.

'Rapier was forced into administration as a result of account losses and reductions in spend from existing clients. However, it still retains the support of a number of important clients and will continue to trade as a going concern as we seek a buyer,' said Baker.