Golden Wonder has its chips
Crisp manufacturer Golden Wonder has collapsed into administration after racking up significant losses again in 2005.
The company produced well-known brands such as Golden Wonder, Nik-Naks and Wheat Crunchies from factories in Corby and Scunthorpe, using 80,000t of potatoes a year.
Administrators at Kroll said it hoped to sell the firm off in whole or in parts, and decried the stranglehold that a single firm had on the crisps market.
Administrator, Adrian Wolstenholme, said: “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 market place.”
Despite sales of ÂŁ88m in 2004, Golden Wonder still posted losses of more than ÂŁ10m, and administrators said the trend had continued in 2005.
Kroll plans to close the Corby own-label crisp factory.
