Crisp and snack manufacturer Golden Wonder has gone into administration.
The company, which produces crisp brands including Golden Wonder, Golden Skins, Nik-Naks, Wheat Crunchies, Golden Lights and Ringos, has appointed Kroll as its administrators.
Kroll said that Golden Wonder’s downfall was due to a competitive market, cost pressures and a declining market share.
Adrian Wolstenholme, from Kroll, said: “Despite its well-known name and brands, Golden Wonder has suffered in recent years. The UK market is dominated by a single crisp and snack manufacturer and Golden Wonder has found it difficult to compete against this leader’s strength in the market place.”
“Despite recent efforts in 2005 to further restructure the company, and attempt to seek buyers for all or parts of the business, it has been necessary to place the company into administration,” he added.
In the year to December 2004, Golden Wonder reported losses of £10.8m on sales of £87.8m and closed its factory in Skelmerdale. Kroll added that further significant losses had incurred in 2005.
The company also said that it was closing its own label operations in Corby but gave no timeline for the closure.
The company, which produces crisp brands including Golden Wonder, Golden Skins, Nik-Naks, Wheat Crunchies, Golden Lights and Ringos, has appointed Kroll as its administrators.
Kroll said that Golden Wonder’s downfall was due to a competitive market, cost pressures and a declining market share.
Adrian Wolstenholme, from Kroll, said: “Despite its well-known name and brands, Golden Wonder has suffered in recent years. The UK market is dominated by a single crisp and snack manufacturer and Golden Wonder has found it difficult to compete against this leader’s strength in the market place.”
“Despite recent efforts in 2005 to further restructure the company, and attempt to seek buyers for all or parts of the business, it has been necessary to place the company into administration,” he added.
In the year to December 2004, Golden Wonder reported losses of £10.8m on sales of £87.8m and closed its factory in Skelmerdale. Kroll added that further significant losses had incurred in 2005.
The company also said that it was closing its own label operations in Corby but gave no timeline for the closure.
No comments yet