Great Wheel Corporation was a company engaged in the development, building, financing, and operation of

Ferris wheel A Ferris wheel (also called a Giant Wheel or an observation wheel) is an amusement ride consisting of a rotating upright wheel with multiple passenger-carrying components (commonly referred to as passenger cars, cabins, tubs, gondolas, capsule ...

s, which they often termed "observation wheels" or "observation platforms". Great Wheel Corporation, registered in Singapore as GWC Holdings, was a consultant for the Singapore Flyer, the world's tallest

since it was completed in 2008. Florian Bollen was chairman of both Great Wheel Corporation and Singapore Flyer Pte Ltd.Firm linked to Flyer under German probe
/ref> The Singapore Flyer went into receivership in May 2013.
In 2009, Great Wheel Corporation merged with World Tourist Attractions to form Great City Attractions.World Tourist Attractions, Great Wheel Merge Ahead Of IPO
/ref> World Tourist Attractions went into administration in December 2010, followed by Great City Attractions in July 2012. In May 2010, Great Wheel Corporation was one of several companies named in a report lodged with the prosecutor's office in Berlin, Germany, for alleged embezzlement. Aussichtsrad-berlin 03

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 tall Beijing Great Wheel, under construction since 2007,Beijing begins construction of world's biggest wheel
''AFP'' 2007-11-05 had gone into

receivership In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in c ...

after breaching the conditions of a loan.Beijing Ferris wheel company in receivership
/ref> 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 Dublin (; , or ) is the capital and largest city of Ireland. On a bay at the mouth of the River Liffey, it is in the province of Leinster, bordered on the south by the Dublin Mountains, a part of the Wicklow Mountains range. At the 2016 c ...

, Liverpool,

Manchester Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of Salford to the west. The t ...

, 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.Big wheel business debts revealed
/ref> Early in 2011 the assets of WTA Global Holdings were bought out of administration for £230,000 by Great City Attractions,Big wheel operator enters administration
/ref> operating as a subsidiary of Elliot Hall Ltd,Company Overview of Great City Attractions Ltd.
/ref> 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

{{Ferris wheel Entertainment companies of Singapore