Embattled Bell Pottinger has hired financial advisor BDO to look at all options regarding the future of the business," according to a statement from the British firm.
The Guardian reports that BP is under pressure to find a buyer within a month to pay off its "mounting debts" or face a shutdown.
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The firm is worth about $26M, according to the Guardian, based on revenues of more than $52M and profits of about $5.2M.
Client defections have rocked BP, which is the first major firm booted from the Public Relations and Communications Assn. for ethical violations stemming from its racist campaign in South Africa.
Tim Bell, co-founder of BP, told the BBC the firm is "probably nearing the end."
James Henderson, largest shareholder of BP, quit his CEO spot on Sept. 3. A new management structure is supposed to be put into place this week.
BP employs 240 people.
Jonathan Halvorson, a veteran of Mondelez, Twitter and GM, is set to take the CMO post at Kenvue as it faces a Texas lawsuit about the about alleged links between its Tylenol and autism.
Cracker Barrel Old Country Store has dumped San Francisco-based Prophet, the creative consultant responsible for its disastrous logo and restaurant refresh.
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Cracker Barrel has called in Edelman for crisis work regarding the backlash surrounding its decision to drop the “old timer” leaning on a barrel from its logo.
