Cambridge Analytica closes - but it might be returning

The controversial data-harvesting firm Cambridge Analytica is reportedly going into administration but may soon resurface with a new brand name.

According to a report in The Guardian, the firm said it will still meet obligations to employees, respect their notice periods and ensure they receive redundancy payments after ceasing all operations on Wednesday.

The collapse follows a whistle-blower from the firm revealing they had been covertly collecting the personal information on more than 87million Facebook users.

A company statement read: "Despite Cambridge Analytica’s unwavering confidence that its employees have acted ethically and lawfully, which view is now fully supported by [Queen's Counsel Julian] Malins’ report, the siege of media coverage has driven away virtually all of the Company’s customers and suppliers."