The end drawing near for Bell Pottinger

The end is drawing near for Bell Pottinger as the PR firm could be put into administration as early as next week after allegations that it participated in a secret campaign to stir up racial tensions in South Africa saw it engulfed in financial turmoil as many of its top clients quickly headed for the exits.

According to City AM, staff at Bell Pottinger were concerned the company did not have the necessary funds to pay their September salaries.

That news came as the disgraced firm had allegedly asked accountancy firm Binder Dijker Otte to search for a buyer in the hope of avoiding being forced to close.

Meanwhile, its Asian Unit said it will part with its British parent ahead of the potential collapse and begin trading under a new name, sources told the BBC.