No comment on Astbury Jones 'closure'

Astbury Jones was set up in July 2001 with offices in Mayfair and Charterhouse Square, according to its website. Astbury, who earlier worked for the search firm Odgers Ray & Berndtson, took a 50% stake. Astbury Jones handles financial services roles as well as commerce and industry and legal positions.

Asked if Astbury Jones had gone out of business, Astbury said he had no comment to make. He then said another recruitment firm in which he is involved, Sandton Group, is 'unaffected' .

Staff of Astbury Jones are understood to be looking for other jobs. Telephone calls to the firm in the past two days have been unanswered or gone through to voicemail.

Astbury helped to set up Sandton Group last year. He said at the time that both Sandton and Astbury Jones had received 'substantial' backing from Adcorp, a South African human resources group.

The website of Astbury Jones says it has seven employees, including Dominic Danos and Tim Williams in financial services. It advertises a number of positions, including a supervisor to work with equities analysts at an investment bank for a salary of 90,000.

The most recent advertisement is dated April this year.