The lobbying firm co-founded by Peter Mandelson is set to go into administration after being caught up in the fallout from the scandal surrounding his links to paedophile financier Jeffrey Epstein.
Global Counsel, a London-based advisory business with more than 100 employees, has informed staff it is facing collapse, the Press Association understands.
The appointment of administrators could come as soon as Friday, as first reported by the Financial Times.
The impact of Lord Mandelson’s historic ties to Epstein, more details of which have been unearthed over recent weeks, is said to be behind a number of high-profile customers choosing to end their relationship with the firm.
Earlier this month, Global Counsel said it had cut ties with Lord Mandelson and announced the departure of its boss Benjamin Wegg-Prosser.
It stressed that Lord Mandelson no longer had any shareholding, role or association with the company and no influence over the firm.
Nevertheless, it is understood that the business continued to come under pressure from his legacy.
