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.
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.
Bell Pottinger has an approximated worth of about £20m, with profits of £4m and a total revenue of over £40m. However, since the recent development, the company has faced image damage and is struggling to hold onto staffs and client is understood to be £4m to £5m in debt.
Company In Danger Of Going Bankrupt
The firm is in danger of going into administration as their long-time client British Multinational Tobacco company Imperial Brands may no longer require their services as the relationship between the two companies is being reviewed.
This brings the total number of clients who have abandoned their ship to nine comprising of The British business-to-business media company Ascential, Singaporean state-owned holding company Temasek, commercial bank in Scotland – Clydesdale Bank, British multinational facilities management and construction services company Carillion, TalkTalk, HSBC, Richemont, Acacia and Investec that goldmines in Tanzania.
Chime owned by United States firm Providence and British multinational advertising and public relations company WPP has returned its 27 percent stake at the board for free.