Attempts to secure additional funding and to broker a deal with the main supplier of Jonathan’s Toys have proved unsuccessful.
It is with deep regret that Andrew Moulsher, managing director of Jonathan’s Toys, has announced that the business is to be placed in administration. Explaining the decision, he stated: “Since taking over the business in August 2022, strenuous efforts have been made to secure much needed additional funding to enable the business to trade and grow. However, despite initial indications that funding would be forthcoming, it has proved not possible to secure the funding needed.”
Jonathan’s Toys was bought in full by Andrew in August 2022. An experienced toy industry stalwart, Andrew formerly worked at Peterkin and also runs his own toy company Top Banana Toys.
He added: “More recently, we have sought to broker a deal with our main product supplier that would enable the business to go forward, but this has been unsuccessful and has left me with no option other than to place the business into administration. As part of this process, we are also considering options to wind up the affairs of Top Banana Toys Holdings.
“Regretfully, all avenues have been exhausted and I’m left with no choice,” he concluded.