Consultancy co-founded by Peter Mandelson falls into administration

"The consultancy co-founded by Peter Mandelson has collapsed into administration, after a number of clients cut ties with the company over the former ambassador's relationship with the convicted child sex offender Jeffrey Epstein. Global Counsel, which Mandelson co-founded in 2010, said on Friday that it had stopped trading and its staff in the UK were being made redundant. The London-based company employs about 100 people, the vast majority of whom are based in the UK."

"Administrators at Interpath said Global Counsel had no option but to enter administration after a number of its clients cut ties with the business, despite its attempts to distance itself from Mandelson and its other co-founder, Benjamin Wegg-Prosser. The crisis hit Global Counsel after it emerged that Mandelson had sought Epstein's advice on setting up the business in 2010, shortly after leaving office when Labour lost the general election."

"While Global Counsel had grown over the past 15 years to become one of the UK's leading public affairs consultancies, the rapid and sudden loss of clients over recent weeks has had a monumental impact on the business. We will now undertake a detailed review of the company's assets and liabilities and explore the best route to realise the company's assets."

Global Counsel, co-founded by Peter Mandelson and Benjamin Wegg-Prosser in 2010, has collapsed into administration after several clients cut ties over Mandelson's relationship with convicted child sex offender Jeffrey Epstein. The London-based consultancy stopped trading and began making UK staff redundant; it employed about 100 people across the UK, Berlin, Brussels, Doha and Singapore. Administrators at Interpath said client losses left the company with no option but administration despite attempts to distance itself from the co-founders. Mandelson sought Epstein's advice on setting up the business in 2010, and files showed Wegg-Prosser met Epstein and shared the company's business plan. Interpath said it will review assets and focus on supporting UK staff.

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