On the ropes due to a lack of consumer spending in its international markets, UK-based party goods manufacturer and retailer Wonder Group (formerly Amscan International) is on the verge of entering into administration.
According to reporting from Sky News from yesterday, Wonder is preparing to appoint an insolvency advisor to see it through the UKs administration process, which occurs when a business can no longer meet its debt obligations. If this moves forward, the advisor will then work together with Wonder to restructure its business, liquidate assets and make new arrangements with creditors.
In response to the ongoing challenging global trading environment, we have recently commenced a strategic review across Wonder Group via whi…
Read the full article at: https://kidscreen.com/2024/06/18/wonder-group-is-on-the-brink-of-insolvency-in-the-uk/