SCL Elections, its parent, as well as Cambridge Analytica began insolvency proceedings in Britain, and said they would soon start bankruptcy proceedings in the United States.
Commenting on the closure, the company said in a statement: "While this decision was extremely painful for Cambridge Analytica's leaders, they recognize that it is all the more hard for the company's dedicated employees who learned today that they likely would be losing their jobs as a result of the damage caused to the business by the unfairly negative media coverage".
"It is no longer viable to continue operating the business", Cambridge Analytica said in the statement. Facebook CEO Mark Zuckerberg was grilled by senators from both parties last month over the Cambridge scandal and Russia's use of the social media platform to interfere with the 2016 election.
"Despite Cambridge Analytica's unwavering confidence that its employees have acted ethically and lawfully, which view is now fully supported by [the official's] report, the siege of media coverage has driven away virtually all of the Company's customers and suppliers", the statement read.
On Wednesday, however, Cambridge Analytica announced its closure in a statement on its website and claimed it had been "vilified" for activities that are legal and considered a standard component of online advertising.
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The Cambridge Analytica sign had been removed from the reception area of its London offices on Wednesday.
The office said that Facebook provided the estimate of affected residents - 2,960,311 people - in response to a bipartisan letter filed by 41 state attorneys general, including Pennsylvania's Josh Shapiro and New Jersey's Gurbir S. Grewal. At SCL's Washington office, a man declined to answer questions. It will also monitor successor companies to "ensure the public is safeguarded".
A separate investigation by the House of Commons committee on digital, culture, media and sport into fake news will also continue to examine issues relating to Cambridge Analytica.
But Cambridge Analytica's announcement left several questions unanswered, including who would retain the company's intellectual property - the so-called psychographic voter profiles built in part with data from Facebook - and whether Cambridge Analytica's data-mining business would return under new auspices.
The ousted Cambridge Analytica's CEO, Alexander Nix was listed as a director of Emerdata in February, until the firm chose to severe ties with him in March.