The agency's 13 existing employees were told of the closure yesterday.
A spokesperson for Pagefield Global said: "It is with regret that Pagefield Global, the independent specialist litigation PR company founded in 2017, has ceased trading with immediate effect.
"The closure of Pagefield Global does not affect Pagefield Communications, an entirely separate company that initially provided start-up finance and back-office support but played no active part in the day-to-day management of Pagefield Global."
A source told PRWeek the closure was due to the "viability of the business", which focused on litigation PR, crisis comms and international affairs. The company has been tight-lipped on its clients and revenue figures are not available.
Pagefield Global was co-founded by Pagefield founder Mark Gallagher and Stuart Leach, Bell Pottinger's former crisis and litigation chief.
It officially launched under the name Pagefield Global Counsel, shortly after Bell Pottinger's high-profile collapse in autumn 2017 following the scandal over the latter's unethical activities in South Africa. Seventeen of Bell Pottinger's former 22-strong crisis comms team joined the venture.
PRWeek understands the 13 staff, two of whom had been due to leave later this month, were paid up until yesterday. The company is expected to be placed in liquidation shortly.
Gallagher, who was the majority shareholder, and Leach led the business until the point of closure. Both are listed as directors on Companies House, alongside finance director Grainne Warner.
Although Pagefield and Pagefield Global were separate businesses, the aim was for them to complement each other, with clients of one seeking the services of the other if the need arose.
Talking to PRWeek about Pagefield Global shortly after its launch, Gallagher said: "We’ve effectively doubled the waterfront of issues that we can offer to clients. What we don’t do at Pagefield is litigation support, although we do a tiny bit of crisis."