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Wenger's website redirects you to Victorinox for warranty work. I'm not sure if Victorinox would attempt to repair a Wenger knife, or if they'd replace it with an equal valued Victorinox. Best bet would be to call Victorinox.
https://www.wengerna.com/wenger-swiss-army-knife-warranty-and-repair
If I recall SAK sales fell on their face due to heightened airline security immediately after Sept 11 2001 and Wenger faced bankruptcy. Victorinox was also hurting but chose to diversify it's product line beyond knives and bought out rival Wenger to ensure that the SAK name didn't fall into offshore manufacture interests.