The lobbying firm co-founded by Peter Mandelson, a former U.K. ambassador to the United States, collapsed into a form of bankruptcy Friday in the wake of the scandal surrounding his links to the late convicted sex offender Jeffrey Epstein.
Global Counsel said it had stopped trading and roughly 80 U.K.-based staff were being laid off after many customers cut ties with the company following revelations about the scale of Mandelson's friendship with the disgraced financier, who died in a New York prison in 2019. The company has around 130 employees worldwide.
