In their letter, Begbies Traynor Group wrote “Please note that the Company is insolvent and has ceased to trade.

“The directors, having regard to the Company’s financial position, have decided to take steps to place it into creditors’ voluntary liquidation.

“This firm is assisting the directors with this process and I would advise that it is proposed Stephen Katz and Paul Robert Appleton, who are licensed insolvency practitioners bound by the Insolvency Code of Ethics, will be appointed as joint liquidators following the resolution to wind-up the Company being passed by the members.”

Big Chief Studios worked with other collectibles outlets such as Sideshow Collectibles and retailers like BigBadToyStore. Individual customers may not be able to recoup any of their pre-orders’ deposits.