ICSM Business Insolvencies: recent casualties from GAME to the largest animation firm in Scotland, and a bicycle manufacturer hit the buffers
By Harry Mottram: In the last couple of weeks, a range of firms have gone bust – often leaving unpaid invoices, staff unpaid and mountains of debt to landlords, councils and lenders. The specialist video game retailer GAME appointed administrators on March 2nd, with James Saunders and Lauren Wentworth of KR8 Advisory charged with finding a buyer or liquidating the assets after a loss of £3.3m last year. The firm is owned by Frasers Group and was one of a handful of GAME stores left following previous closures on the one-time fixture on many high streets.
Wild Child Animation, Scotland’s biggest animation provider, has fallen into administration despite having worked with the Cartoon Network, Disney and Warner Brothers. One of the issues the firm has faced is the rise of Artificial Intelligence or AI which has eaten into the type of work they do. Gordon McIntyre and Donald McKinnin of Wbg Services have been appointed as joint administrators at the end of February.
Bicycle manufacturer Frog Bicycles of Berkshire fell into administration last month, with Anthony Wright and Alastair Massey of FRP Advisory appointed as joint administrators. The usual suspects have been blamed of rising costs, a fall in sales and hikes in overheads.
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