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Marussia have become the second Formula One team in a matter of days to be placed into administration.

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Formula 1 team Marussia has been placed into administration.

London-based restructuring and recovery firm FRP Advisory has taken on the role of administrator.

It's confirmed the team will miss this weekend's US GP in Austin as a result.

But in a statement FRP says Marussia will continue to operate while they assess the long-term viability of the company in its present form.

The Formula 1 team is the second in a matter of days to enter administration.

Caterham called in the administrators on Friday, but it's been given special dispensation to miss the next two grand prix's while a buyer is sought.

Marussia is also seeking fresh investment.

Staff have been paid up until the end of October.