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.
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FGS Global’s Paul Holmes, Molly Levinson of TLG Communications. Trident GMG’s Joshua Galper and Brunswick Group’s Ellen Moskowitz all placed in the top level (Tier 1) of individual practitioners in the recently released Chambers rankings for both crisis & PR communications pros and those working in litigation PR & communications.
Gregg Feistman, M.A., Professor of Practice in Public Relations at Temple University and former corporate communications executive, joins Taking the Lead to discuss the frameworks leaders can use to determine when to speak up or stay silent.
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