Golden Wonder sell-off brief for FD
Golden Wonder administrator Kroll has begun a media relations campaign to boost the stricken firm’s price ahead of an anticipated sell-off.
Kroll called in Financial Dynamics days before GW's collapse was announced on 9 January. 'We've been briefed to handle media relations in the City and remind potential buyers that Golden Wonder is a huge and iconic brand,' said FD issues management practice managing director Jon Aarons. The brief also includes keeping the 850-strong workforce up to date on redundancies.
Of concern to buyers will be GW's £11m loss in 2004 and a reported pension deficit. But with brands including Nik Naks well established, investors might be allowed to take over individual product lines.
The collapse has been attributed to the dominance of PepsiCo-owned Walkers, which has 45 per cent of the UK crisp market, compared with Golden Wonder's meagre five per cent.