Bell Pottinger closes Twitter account as it goes under administration

Bell Pottinger

REUTERSBell Pottinger COLLAPSES into administration after failing to find a buyer

Bell Pottinger officially fell into administration on Tuesday following a racially charged public relations campaign in South Africa, marking an ignominious end to one of the most high-profile PR firms in the UK.

The PR firm put itself up for sale last week but was unable to find a buyer.

That followed the UK's PR trade body's decision the day before to expel Bell Pottinger from its ranks, despite chief James Henderson's previous decision to stand down from his post.

"Following an immediate assessment of the financial position, the administrators have made a number of redundancies".

Bell Pottinger, which is based in London, has lost customers, partners and its second-biggest shareholder in recent weeks.

Bell Pottinger apologised in July this year after an email published in South African media showed it had sought to stress the continued "existence of economic apartheid".

Clients such as global bank HSBC publicly distanced themselves from the firm.

Adding to the company's financial woes, following that chain of events Pottinger's Middle East and Asian units announced plans to separate from the United Kingdom parent company.

Administrators BDP said the firm had been "heavily financially impacted" by the South Africa scandal.

"The level of those losses, compounded by the inability of the business to win new clients, was such that remaining management were left with no option but to commence the process to place all UK Bell Pottinger entities into administration", BDO was quoted by The Guardian as saying".

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