Great Wheel Corporation

History

In 2009, World Tourist Attractions had merged with Great Wheel Corporation to form Great City Attractions, said at that time to be "the world's largest operator of Observation Wheels."

In May 2010 it was reported that Great Beijing Wheel Co., the company set up to build the 208 m tall Beijing Great Wheel, under construction since 2007, had gone into receivership after breaching the conditions of a loan.

On 23 December 2010, the holding company WTA Global Holdings, which traded as World Tourist Attractions, went into administration, having hit financial difficulties due to the seasonal nature of its trade. At that time, it was operating five large transportable wheels in the UK, in Dublin, Liverpool, Manchester, Weston Super-Mare, and Hyde Park in London. Some proved not to be viable during the off-season, while others simply failed to make the profits initially predicted. The company collapsed owing £16.4 million, including £8.9 million to unsecured creditors, who were expected to get nothing.

Early in 2011 the assets of WTA Global Holdings were bought out of administration for £230,000 by Great City Attractions, operating as a subsidiary of Elliot Hall Ltd, a new company set up by WTA Global Holdings director Elliot Hall.

In July 2012 it was reported that Great City Attractions had also gone into administration. It ceased trading the following month.

In May 2013 the Singapore Flyer went into receivership, and accountants Ferrier Hodgson were appointed as receiver and manager of the company's charged assets.

Unbuilt projects

Great Wheel Corporation was involved in a number of giant Ferris wheel projects, all of which failed either prior to, or very shortly after, the start of construction.

References

References

1. (October 2017)
2. [http://www.channelnewsasia.com/news/singapore/singapore-flyer-in-receivership/690210.html Singapore Flyer in receivership] {{webarchive. link. (2013-06-07)
3. [http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200907240939dowjonesdjonline000583&title=world-tourist-attractionsgreat-wheel-merge-ahead-of-ipo World Tourist Attractions, Great Wheel Merge Ahead Of IPO]
4. "Keynote and Featured Speakers".
5. [http://afp.google.com/article/ALeqM5g3Nb2cmuC0TcyevBNd13w9GEYY_w Beijing begins construction of world's biggest wheel] {{webarchive. link. (2013-07-05 ''AFP'' 2007-11-05)
6. [http://www.finanznachrichten.de/nachrichten-2010-05/16787598-beijing-ferris-wheel-company-in-receivership-ifr-020.htm Beijing Ferris wheel company in receivership]
7. [http://www.insidermedia.com/insider/north-west/48016-big-wheel-business-debts-revealed/ Big wheel business debts revealed]
8. "Exclusive: Arena loses £50,000 after Wheel of Liverpool 'crash'".
9. [http://www.insidermedia.com/insider/yorkshire/75011-big-wheel-operator-enters-administration/ Big wheel operator enters administration]
10. [https://archive.today/20130119013616/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=52169867 Company Overview of Great City Attractions Ltd.]
11. "Company which ran Plymouth Eye big wheel on Hoe has stopped trading".
12. "Great Dubai Wheel Gets the Green Light".
13. McGinley, Shane. (5 January 2012). "Dubai's answer to London Eye scrapped, search on for stand-in". Arabian Business via Arabianbusiness.com.
14. "The Ferris Wheel near the Zoo has been approved".
15. [http://www.sun-sentinel.com/travel/attractions/orl-travel-great-wheel-on-hold,0,4751298.story Planned Great Wheel for I-Drive area of Orlando on hold -- South Florida Sun-Sentinel.com]{{dead link. (October 2017)
16. [https://archive.today/20130128030012/http://www.khaleejtimes.com/DisplayArticle09.asp?xfile=data/middleeast/2008/November/middleeast_November104.xml&section=middleeast Contract Signed to Build $250 million Jeddah Eye]
17. [https://web.archive.org/web/20131126070248/http://www.businessweek.com/news/2013-11-05/orlando-ferris-wheel-project-gets-receiver-for-liquidation-1 Orlando Ferris Wheel Project Gets Receiver for Liquidation]