M Bold & Friends has suddenly folded, with its largest client Discovery Networks Asia looking for a new agency.

Discovery was M Bold & Friends' foundation client - an account involving trade and consumer advertising across Asia for the Discovery, Animal Planet as well as Discovery Travel & Adventure regional pay-television channels.

Lesley Anne Campbell, Discovery Networks senior vice-president marketing and communications, has been qoted as saying: "We had no idea that M Bold & Friends' financial difficulties were so severe."