Peter Mandelson’s former lobbying firm, Global Counsel, went bust owing £4.6 million, including more than £600,000 to HM Revenue and Customs, according to a report by the company’s administrators.
The consultancy, which advised clients such as TikTok, Palantir and GSK, collapsed in February after losing accounts linked to the peer’s association with convicted sex offender Jeffrey Epstein. Mandelson resigned from the board in 2024 but retained shares in the business.
Administrators’ documents filed at Companies House show total liabilities of £4,596,149 after accounting for £2.7 million in assets. HMRC is the largest external creditor, owed £645,789. The firm also owes £2.6 million to its 100 employees, most of whom were UK-based.
Co-founder and chief executive Ben Wegg-Prosser, formerly Tony Blair’s director of strategic communications, stepped down in February. The Epstein files revealed that both Mandelson and Wegg-Prosser sought Epstein’s advice on setting up the business in 2010, with Wegg-Prosser travelling to meet him in New York that year.
The company’s collapse comes amid scrutiny of Mandelson’s vetting for the role of UK ambassador to Washington, which he failed due to security concerns over his links to foreign states, including China.
