It is understood that executives are aiming to do a deal within weeks, although they are keen not to put a deadline on a transaction.
Announcing the administration on Tuesday, BDO said the UK business had been “heavily financially impacted by the well-publicised issues resulting in losses of clients, partners and staff and culminating in the expulsion from the Public Relations and Communications Association.
“The level of those losses, compounded by the inability of the business to win new clients, was such that remaining management were left with no option but to commence the process to place all UK Bell Pottinger entities into administration.”
About half of the 100 staff at the London base were laid off on Tuesday, with a “roll call” in front of the whole office being used to identify those who were being made redundant.
BDO pointed out that Bell Pottinger’s subsidiaries outside the UK continued to trade under their own management teams.