Deepgroup, the digital communications group, which includes the Deepend agency, is the latest victim of the dot-com crash, going into receivership with the loss of 180 jobs worldwide.
About 92 jobs will go in London, with the other job losses spread across the company’s offices in New York, Prague, Rome, San Francisco, Sydney and Toronto.
Deepend was set up in 1994 by chief executive Gary Lockton and creative directors Simon Waterfall and David Streek. It was run by Peter Beech and Nick Farnhill.
In 1999 Deepend set up holding company Deepgroup, of which it became a subsidiary. Deepgroup subsequently set up six sister companies – Airtight, Backend, Gluemedia, Poolside, Relish and Sleeper.
The company’s clients include Britvic, the BBC, Ikea and Renault. It forged working relationships with agencies such as Leagas Delaney and J Walter Thompson and recently worked on the website for Mother’s Batchelors Super Noodles campaign.
The company last year reported revenues of &£9.4m. A spokesman declined to give details of the extent of the company’s losses or make any comment.