Mandelson's Global Counsel collapses after Epstein ties fallout
Global Counsel, the public affairs firm co-founded by Peter Mandelson, has shut down and entered administration after losing major clients due to its ties with Jeffrey Epstein.
Global Counsel said it had stopped trading and that UK staff were being made redundant; Interpath, the appointed administrator, said it had been appointed and was supporting affected UK staff.
100-130 UK staff affected
About 100 to 130 mostly UK-based employees were told on Thursday that they're being let go.
The firm's rapid client losses—including a global streaming company—proved too much to recover from, even with new leadership stepping in.
Mandelson fully divested his shares
Mandelson, a former UK ambassador to the US, had reached an agreement to fully divest his shares, Global Counsel said.
Co-founder Benjamin Wegg-Prosser stepped down as chief executive earlier this month, with Archie Norman from M&S part of the new leadership team.