We find it inconceivable that an entire nation learnt of how Bell Pottinger was able to engineer a misleading and deceitful PR campaign that would further the aims of a private family (the Guptas) to benefit from state capture, while senior management were seemingly oblivious to this conduct for so long.
Bell Pottinger's South African campaign had material meant to divide South Africans.
The firm's troubles began when South Africa's main opposition party, the Democratic Alliance (DA), complained about the PR company's campaign for Oakbay Capital - an investment holding firm run by the billionaire Gupta family - which portrayed opponents of President Jacob Zuma as agents of "white monopoly capital" and coined slogans of "economic apartheid".
Meanwhile, the UK PR agency's second-biggest shareholder, marketing firm Chime, has given up on trying to sell its 25 per cent stake in the company.
In July, the firm's chief executive James Henderson issued an "unequivocal and absolute" apology to anyone affected, fired the lead partner involved in the campaign and suspended another partner and two other employees.
Bell Pottinger investor Chime, co-owned by United States investment firm Providence Equity Partners and Sir Martin Sorrell's WPP group, has given up trying to sell its 27 per cent holding in the wake of the scandal.
In response to the decision, Bell Pottinger said it "accepts that there are lessons to be learned but disputes the basis on which the ruling was made" and said that it would "refocus on delivering outstanding work for our clients and looking after our people".More news: Iowa soldiers, 2 helicopters to be part of Harvey relief effort
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Veteran spin doctor Chris Vick told HuffPostSA on Tuesday Bell Pottinger is "as good as dead" and shouldn't bother attempting to recover.
TalkTalk, one of the UK's biggest broadband operators, had a contract with the agency that ended this year.
Waitrose, which prides itself on its ethical stance, would not say whether it will definitely continue to employ the embattled agency.
Previously, Investec, challenger bank CYBG had already terminated their relationship with the company.
Lord Tim Bell, the firm's co-founder, admitted the company would "almost certainly" fail to recover from the Gupta-linked scandal during an interview on BBC Newsnight on Monday evening.
"Due to reasons of confidentiality we do not comment on business matters of this nature", a BDO spokesperson said.