Global Counsel, the influential lobbying firm co-founded by Peter Mandelson, has collapsed into administration following a rapid and sudden exodus of some of its high profile blue-chip clients. The crisis was triggered by revelations from over three million pages of US Department of Justice files, which detailed the extent of Mandelson’s relationship with the late Jeffrey Epstein.

The files suggest Mandelson sought Epstein's advice when establishing the firm in 2010 and allegedly shared market-sensitive government information with him. Despite recent efforts to sever all ties - including Mandelson’s resignation and the divestment of his shares - major clients such as Barclays, Tesco, and KKR have terminated their contracts. 

The firm’s board concluded that the turbulence of negative attention made the business unviable. Approximately 130 staff now face redundancy as administrators from Interpath begin liquidating assets, marking a dramatic end for one of the UK’s leading public affairs consultancies.

Read more about the collapse here

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French gaming giant Nacon has officially filed for insolvency following a major financial crisis involving its parent company, Bigben Interactive. The move was triggered after Bigben’s banking pool unexpectedly refused to authorise a drawdown needed to repay a €43 million debt. This forced Nacon to seek judicial reorganisation to protect its 1,000+ employees and 16 development studios.

Nacon is currently using the court-supervised process to freeze debts and restructure. Operations remain active, and the company has expressed its intent to move forward with major 2026 releases such as GreedFall II and Styx: Blades of Greed. Trading of Nacon and Bigben shares on the Euronext Paris remains suspended as the Lille Métropole Commercial Court determines the next steps for a continuation plan.

Read more at Indy100

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On February 10, 2026, the European Commission officially approved a €390 million rescue loan for Acciaierie d’Italia (ADI), the operator of Italy’s largest steelworks in Taranto, clearing the path for its recovery. This state aid, granted under strict EU regulations, provides a critical lifeline to ensure the company’s liquidity and business continuity during its ongoing extraordinary administration.

The funding is designed to cover urgent operating costs and essential environmental maintenance, preventing a total production halt that could devastate the regional economy. As a condition of the approval, Italy must present a comprehensive restructuring or liquidation plan by August 2026. 

The intervention marks a pivotal moment in the 2026 recovery strategy, aiming to stabilize the plant’s industrial output while the government seeks a long-term private buyer to modernize the facility and secure thousands of jobs.

Read the full Press Release from the European Commission

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Reports suggest that James Watt is preparing a £10 million comeback bid to regain control of BrewDog, as the struggling craft beer giant faces a potential sale. 

Backed by private equity, the proposed deal would acquire the company’s brands, bars, and brewing operations, preserving the business as a whole rather than breaking it up. The move follows five consecutive years of pre-tax losses, including a £37 million deficit in 2024, with restructuring advisers AlixPartners overseeing the sales process. 

Crucially, the plan may allow some of BrewDog’s 220,000 crowdfunded retail investors to roll over their shares. If successful, the founder-led bid could reshape the company’s future, raising questions about valuation, governance, and whether returning leadership can stabilise a once high-flying brand.

Read more at The Drinks Business here

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Italian-based Graphilm Entertainment has regained full ownership and returned to independent operation following the liquidation of its French former parent company, Cyber Group Studios. After the French animation giant entered administration last year, Graphilm successfully restored 100% ownership, allowing it to operate as a fully independent Italian production house once again.

The company is also strengthening its production and distribution partnerships. Crucially, the studio has recovered the rights to its key intellectual properties, including the animated series McFire Family.

This restoration of ownership marks a new chapter for the 38-year-old studio, preserving its creative legacy while stabilizing its international production pipeline amidst the collapse of its former corporate partner.

More on this story at World Screen

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