Economy

PR company collapses following South Africa scandal

PR company collapses following South Africa scandal”

The recently expelled public relations firm, Bell Pottinger is under serious pressure to sell itself within next month else it would face the closure of the business by the year's due to huge amounts of debt.

"At last, there's a bit of justice after Bell Pottinger's malevolent, scandalous, fake news campaign, which re-racialised South African politics in a terrible way", he said.

A BDO spokesman said: "Following an immediate assessment of the financial position, the administrators have made a number of redundancies".

As a result, several clients including HSBC band and luxury goods company Richemont had severed ties with the firm.

Bell Pottinger had around 250 staff, and around half are believed to have been made redundant.

"We have taken appropriate steps to preserve the rights Bell Pottinger may have in relation to the failure of the business". Its subsidiaries in Asia and the Middle East, which are legally separate, have already moved to rebrand as separate entities.

"White monopoly capital" was one of the slogans Bell Pottinger used on behalf of Oakbay Capital, an investment holding company run by the Indian Gupta family.

He said: "The majority of those employed by Bell Pottinger bear no responsibility for the company's actions in South Africa". This was widely viewed as racially divisive, with a focus on "economic apartheid".

The company was created in 1987 by Tim Bell, one of Margaret Thatcher's foremost PR advisers, and is well known in the United Kingdom for its links to the world of politics and business.

The PR firm can not reapply to join the PRCA for at least five years after it was found to have breached two clauses of the organisation's professional charter and two clauses of its code of conduct.

Things aren't looking so well for the castellated PR firm after it's expulsion from the industry trade body for rousing racial divisions in South Africa during its most recent Campaign.



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