Economy

Bell Pottinger's Middle Eastern division looks to separate from British parent

Bell Pottinger's Middle Eastern division looks to separate from British parent”

Bell Pottinger, a British-based public relations firm which the former Sri Lankan Government hired for work both in that country and in the United States, has been slapped with sanctions.

The troubled public relations firm put itself up for sale last week, but could not find a buyer.

Disgraced PR firm Bell Pottinger is on the brink of collapse after falling into administration amid the controversy over its racially-charged campaign in South Africa.

Investec and Richemont also dumped Bell Pottinger over the scandal, with co-founder Lord Bell, who departed in 2016, warning that company would "almost certainly" fail to recover from the fallout.

Accountancy firm BDO has been appointed as administrators.

The BDO staffer noted that a "number of redundancies " have been made following an assessment of BP's financial position.

Last week the company's Asian unit, its other free-standing worldwide business, also said that it wanted to separate from the London parent.

"Late last week, 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".

South African opposition party Democratic Alliance had complained to the regulator about the campaign which emphasised the power of white-owned businesses and used the #WhiteMonopolyCapital hashtag.

This was over the company's campaign for South Africa's Gupta family and the PRCA said it was likely to "inflame racial discord".



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