Corgi International Limited (Nasdaq GM:CRGI) today announced that
two of its wholly owned subsidiaries, Popco Entertainment (UK) Limited
(formerly Corgi Classics Limited) and Popco Distribution Limited
(formerly Cards Inc.), both United Kingdom (UK) corporations, have been
placed into administration, which is the rough equivalent to Chapter 11
reorganization in the United States. BDO Stoy Hayward LLP, Prospect
Place, 85 Great North Road, Hatfield, Hertfordshire, AL9 5BS, have been
appointed Joint Administrators of PopCo Entertainment (UK) Limited and
of PopCo Distribution Limited. The business and assets of the UK
companies are now managed by the Joint Administrators who act as agents
of the companies.
Corgi International Limited will continue to sell its products worldwide
through their operations in Hong Kong and the United States.
About Corgi International
Corgi International Limited is a global Pop Culture company, which
develops and markets innovative and high-quality licensed and
non-licensed toys, gifts and collectables distributed via direct,
specialty, hobby, collector and mass retail channels worldwide. Marketed
under the brand names Master Replicas, PopCo and H2go, the Company’s
line of products range from premium entertainment prop replicas and
limited edition memorabilia to traditional toys and gift merchandise.
The Company holds varying licenses for many of entertainment’s
highest grossing franchises including Disney Classics, Harry Potter,
Star Trek, Nintendo, Halo and The Beatles, amongst others. Corgi
International Limited also has partnerships with cutting edge technology
innovators around the world.
The Company is headquartered in Hong Kong, with operations in Walnut
Creek, California, USA.
Statement under the U.S. Private Securities Litigation Reform Act of
1995: Certain statements contained in this press release may be
forward-looking. These statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
anticipated. Such risks and uncertainties include, without limitation,
changes in market demand for Corgi International products, changes in
economic conditions, dependence on certain customers and licensing
partners, and other risks described in the Company´s annual report on
Form 20-F for the fiscal year ended March 31, 2008. The Company
undertakes no obligation to update these forward-looking statements to
reflect subsequent events or circumstances.
For Corgi International Limited
Jack Lawrence, 925-979-1500 ext. 111