Wed, 28 May 2025 | ADMINISTRATION
Administrators from Interpath Advisory have launched an accelerated sale process for an omega-3 oil manufacturer and supplier. Algal Omega 3 Ltd operates from an advanced manufacturing site at Knowsley Business Park South in the Liverpool City Region, employing a team of 42 staff.
The company, which is headquartered in Northern Ireland, uses fermentation technology on microalgae to manufacture crude algal oil, which is utilised for a variety of applications.
According to administrators, the company has struggled to remain competitive in the international market over recent years, largely as a result of rising production costs.
Algal Omega 3’s accounts at Companies House are currently overdue, with the most recent filing covering the year to December 31 2022. During 2022, the company reported turnover of £15.4 million, down slightly from £16 million a year earlier, and saw its losses widen from around £145,000 to more than £1.8 million.
The company’s struggles were brought to a head recently when it lost its last remaining contract, leaving directors with no choice but to appoint administrators.
Stuart Irwin and Richard Harrison from Interpath Advisory were subsequently appointed as joint administrators of the business on May 27, 2025. The joint administrators will now commence an accelerated M&A process to market Algal Omega 3’s business and assets for sale.
The company’s manufacturing plant will remain operational during the process in order to fulfil outstanding orders while activities are wound down.
Joint administrator and Interpath Advisory Managing Director Stuart Irwin commented: “The team at Algal built an impressive fermentation and extraction site in Knowsley with advanced processes and capabilities. Unfortunately, with such intense competition in the international market for omega-3, the business couldn’t retain key contracts amidst rising production costs.”
"We will launch a sale process for the business and assets and urge any interested parties to come forward. We are on site to support staff and work with the team to ensure an orderly wind down of operations."
In its 2022 accounts, the company’s fixed assets were valued at around £7.6 million and current assets at £6.6 million. Net liabilities, however, totalled slightly over £15.6 million.
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