Economy

Axe about to fall on Bell Pottinger

Axe about to fall on Bell Pottinger”

Bell Pottinger could be put into administration as soon as next week after its financial plight worsened in the wake of a scandal over its secret campaign to stir up racial tensions in South Africa.

Sources said the agency - for decades a stalwart of the worldwide PR scene - could formally appoint administrators as soon as next week.

"They have days to close a deal, not weeks", a source close to the sales process told the Guardian.

A spokesman for the company said: "We are actively discussing restructuring options with BDO".

Bell Pottinger founder Tim Bell, who worked on former British prime minister Margaret Thatcher's victorious election campaigns in the 1970s and 1980s, said he was sad about the fate of the firm. Bell Pottinger came in for sound condemnation, with a representative for the British cabinet seeking to distance the British government from the firm's actions.

"We built this agency from the ground up". The company has said it will move quickly to find a replacement. Nonetheless, the House was warned that Bell Pottinger may have done serious damage to the UK's relationship with South Africa.

Staff were delivered the news after a tumultuous week for the High Holborn-headquartered public relations firm.

As problems continue to pile on for Bell Pottinger around the world following the fallout of a controversial campaign in South Africa, its Asian namesake has taken great pains to assure existing and potential clients that it is a separate legal entity.

The scandal has pushed clients to reconsider their use of Bell Pottinger.

James Henderson, the largest shareholder, resigned as chief executive over the weekend, just before the scale of the punishment from the PRCA became clear. "We hope staff and clients stay firm and strong".



Like this

loading...
loading...

Latest


08 September 2017
8-year-old dies after being attacked with a hammer
Chaney is accused of attacking his ex-girlfriend and two children - a 7-year-old girl and the 8-year-old boy - with a hammer. Sacramento police say officers responded to the scene after a vehicle connected to the suspect was flagged by a POD device.

08 September 2017
Samsung's new mobile security program is offering cash for bugs
Depending on the severity level of the vulnerability, the rewards amount will range between $200 and $200,000 for qualified security reports.

08 September 2017
Florida State releases 2017-18 men's basketball schedule
The Syracuse Orange open its conference schedule on December 31 with a home game against Virginia Tech. The Blue Devils will wrap up the month with their ACC home opener, hosting Florida State at 2 p.m.

07 September 2017
Calgary, Edmonton police work together to solve shootings
In Edmonton, EPS said anyone with information about the men are asked to contact them at 780-423-4567 or #377 from a mobile phone. Police could not confirm how the shootings were related, and are unsure of a motive in any of them.

07 September 2017
Hurricane Irma might have destroyed one of the world's most famous airports
Maarten includes her grandmother, and she hasn't been able to reach her. "Such a ideal , magical place reduced to rubble". Martin, Princess Juliana serves as an global gateway from the US and Europe to smaller islands in the Caribbean.

07 September 2017
Vladimir Putin Says he Believes US Willing to Defuse Korea Tensions
However Putin recently poured cold water on the idea, saying North Koreans would "eat grass" before they gave up nuclear weapons. However, doing so could provide the South with a renewed sense that the United States would use its nukes in a crisis.

07 September 2017
Airain ltd Invests $2.34 Million in Hertz Global Holdings, Inc (HTZ)
Looking at a shorter time period, shares have been seen -3.49% away from the 50 day high and 112.49% off the 50 day low price. A company's dividend is mostly determined by its board of directors and it requires the shareholders' approval.

07 September 2017
Panthers to fly players, staff out of Florida
Several other highly regarded young players who will be vying for roster spots were also slated to participate. The rookie tournament, which was to be held on Florida's west coast in Estero, was canceled on Wednesday.

07 September 2017
DeVos says current approach to campus sexual assault "isn't working"
If colleges and universities do not meet that obligation, the Obama administration threatened to pull their federal funding. Jackson, the top civil rights official at the Education Department, dismissed numerous sexual abuse charges as trumped up.

07 September 2017
BMW Will Have 12 Fully Electric Vehicles in Its Lineup by 2025
In confirming the new i model for the Frankfurt show, Frohlich says it and the iNext: "are two completely different models". The i5 is among four new all-electric models to be confirmed by BMW at the Frankfurt show.