In a statement Wednesday, due to the major collapse of the business, the organization told the process of declaring itself as a bankruptcy declaration, Reuters reported on Reuters.
Since the beginning of 2014, millions of Facebook users have lost their customers in investigating the allegations of handling personal information and the company struggling to cope with mounting legal costs announced that they should roll out their operations.
"In the media, all customers and suppliers of the company have virtually turned away. The decision to handover the Cambridge Analyst to the administration has been decided, because there is apparently no effective status and option in business management, "the statement said in a statement.
The London-based consulting firm, which works for Donald Trump, in the 2016 US presidential election.
Hundreds of Facebook subscribers are leaked recently through an app that is used to determine the propaganda strategy for the presidential election.
According to the Facebook commentary, Cambridge Approach has collected 8.7 million subscribers.
After this leaked information, Facebook and Facebook are also facing criticism from the UK. The British Parliamentary Committee summoned Facebook's Chief Executive Officer Mark Zuckerberg.
After sending a representative there, but after the presence of the US Senate, it was Zabarabhabe to be accountable exactly to Zakirbagh During this time, the share of facebook shares also led to widespread gains.
Several investigations are going on in the US and Europe about the Facebook information scandal.
"In the last few months, Cambridge Analyktica was the subject of numerous unknown complaints. Despite attempts to prove the facts, efforts have been made to prosecute some of the activities that are accepted and legal in the political and business areas around the world, "said Cambridge Analyst in a statement.