Allmond, the chief executive of TAP, has given the entire agency staff three months' notice following BT's decision to move its £30 million television buying business into Starcom Media-vest without a pitch (Campaign, 9 September).
The BT loss followed hot on the heels of Weetabix's decision to move its business out of TAP and into Walker Media, also without a pitch.
TAP launched in December 1997 and soon afterwards won the BT TV buying business from CIA Group's Negotiation Centre, where Allmond previously worked. TAP was initially backed by Manning Gottlieb OMD but bought itself out of the arrangement in 2003.
Earlier this year, the managing director, Paul Longhurst, was made redundant as part of cost-cutting measures.
Allmond refused to comment on the closure.