Golden Wonder, famous for its crisps line including Ringos, Nik-Naks and
Wheat Crunchies, has entered into administration.
The snack manufacturer, with its HQ in Market Harborough and manufacturing
sites in Corby and Scunthorpe employing a total 850 staff, experienced
significant trading difficulties as a result of a ‘highly competitive market’,
resulting in declining sales and a loss of market share.
Managed by Kroll administrators Adrian Wolstenholme, Peter Holder and Gary
Squires, a buyer is being sought for the business.
‘Unfortunately, despite its well-known name and brands, Golden Wonder has
suffered in recent years, primarily as a result of operating within a very
competitive marketplace. 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 marketplace,’ said Wolstenholme.
He hoped that a buyer for part or all of the business could be secured.
But job losses are likely at its Corby site, where GW’s own label products
are set to cease being produced, according to a spokesman.
In the year to 31 December 2004, reported losses were £10.8m on sales of
£87.8m and significant losses have been incurred in 2005.
Its Skelmersdale plant was closed due to trading difficulties in 2004.
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