TM Advertising, a Dallas-based agency that bought itself back from IPG two years ago, is closing its doors after an 85-year run.
Becca Weigman, CEO of TM Advertising, told Adweek today that a recent “perfect storm” of client cutbacks led to its closure.
“It’s a financial decision. It’s a very competitive environment,” she said. “Three of our largest clients reduced their fees tremendously. While we won some new business, we didn’t win fast enough.”
Weigman did not share how many employees were impacted by the decision, or the names of the three clients.