Crisp manufacturer Golden Wonder has collapsed into administration after racking up significant losses again in 2005.
The company produced well-known brands such as Golden Wonder, Nik-Naks and Wheat Crunchies from factories in Corby and Scunthorpe, using 80,000t of potatoes a year.
Administrators at Kroll said it hoped to sell the firm off in whole or in parts, and decried the stranglehold that a single firm had on the crisps market.
Administrator, Adrian Wolstenholme, said: “Unfortunately, despite its well-known name and brands, Golden Wonder has suffered in recent years, primarily as a result of operating within a very competitive marketplace.
“The UK market is dominated by a single crisp and snack manufacturer and Golden Wonder has found it difficult to compete against this leader’s strength in the market place.”
Despite sales of £88m in 2004, Golden Wonder still posted losses of more than £10m, and administrators said the trend had continued in 2005.
Kroll plans to close the Corby own-label crisp factory.