Directors have resolved to put the company into a Creditors Voluntary Liquidation.
After 34 years as a leading licensed greeting card company, Gemma International is to cease trading.
Confirming the rumours that have been circulating for a while, Amanda Parkin, managing director of Gemma International wrote to the company’s agents last Friday (May 31) to inform them of the business’ demise.
‘It is with great regret that I am writing to inform you that Gemma International has announced that it will cease trading. The Directors have resolved to put the Company into an insolvency process known as a Creditors Voluntary Liquidation,’ Amanda wrote.
She relayed that ‘it is likely that Rachael Wilkinson and Zelf Hussain of PwC will be appointed as liquidators after the meeting of the company’s creditors has taken place.’
The notification comes after attempts to save the long-established licensed card publisher through drastic cost cutting as well as offering it for sale have failed, unless something happens at the 11th hour.
Gemma was founded by Amanda and Tim’s parents Lindesay and Margaret Rudd-Clarke, who as independent toy retailers spotted a gap in the market to produce greeting cards based on the brands that were popular on the toy front. Over the years the company has evolved to include licensed giftwrap and partyware, supplying a wide spectrum of retailers, from the major grocers to independent card shops.
In addition, it supplied greeting cards into The Entertainer toy shop chain under a brokerage model, including other publishers’ designs.
Last year saw the launch of the Studio by Gemma sibling brand that was devised to appeal to independent boutiques. This too is to cease trading.
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