Corgi’s UK units bankrupt
By Staff -- Playthings, 10/31/2008 8:21:00 AM
HONG KONG—Corgi International’s wholly owned U.K. subsidiaries Popco Entertainment (UK) and Popco Distribution have been placed into administration, the British equivalent of Chapter 11 reorganization.
Popco Entertainment (UK) Ltd., formerly known as Corgi Classics Ltd., and Popco Distribution Ltd., formerly known as Cards Inc., are now being managed by joint administrators who act as agents of the companies.
Corgi International, which markets licensed and non-licensed toys, gifts and high-end collectables distributed via direct, specialty, hobby, collector and mass retail channels worldwide, will continue to sell its products through its operations in Hong Kong and Walnut Creek, California.
Earlier this year, Corgi sold its Cards Inc. card, sticker and card-based collectibles division to Britain’s Esdevium Games for an undisclosed sum. In May, the company sold its namesake Corgi Classics die-cast collectibles business to Britain’s Hornby Hobbies for $16.6 million.
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