According to the The Business Desk and The Yorkshire Post, the future of Wonder Group companies, including Amscan International, Christy’s by Design and Ginger Ray has been secured following the sale of business and assets to four separate companies owned by the investment firm Baaj Capital.
As part of the deal, 133 employees based across the companies’ sites in Sheffield, Milton Keynes, Weybridge and Manchester transferred to Baaj Capital. However, a further 69 employees have been made redundant. Support will be provided to those who have lost their jobs, including assisting them with making claims to the Redundancy Payments Service.
“We are pleased to conclude the purchase of the business of these companies in the Wonder Group, saving the jobs of 133 employees in the process”
News of the decision to file the notice of intention to appoint administrators to buy itself temporary breathing space from creditors broke on Sky News a month ago. The group had experienced a period of underperformance in trading in the wake of a downturn in consumer spending. The underperformance was compounded by the insolvency of a major customer, Party City, in early 2023.
James Clark and Will Wright of Interpath Advisory were appointed joint administrators of Amscan International, Christy’s by Design, Ginger Ray and Party Delights on 15 July 2024. Joint administrators to were also appointed to other Wonder Group companies around the same time.
James Clark, managing director at Interpath Advisory, said: “The Wonder Group has grown over the years to become a truly international business with operations spanning all four corners of the globe. However, in common with many consumer-facing businesses, it has been hit recently by the dual-impact of fragile consumer confidence and rising costs.”
A spokesperson for Baaj Capital added: “We are pleased to conclude the purchase of the business of these companies in the Wonder Group, saving the jobs of 133 employees in the process. We now look forward to rebuilding the business with a strong management team and new investment.”
