Mon, 28 May 2012 | ADMINISTRATION
A Runcorn-based pharmaceutical company has been placed in administration following a legal battle with the NHS.
David Stearne contested the government on its non-pharmacy prescription and delivery issues after several Primary Care Trusts (PCTs) contended that several of its outlets did not comply with the regulations. The firm spent a significant amount of money defending itself but was unsuccessful in its efforts.
A report from the administrators, seen by Runcorn and Widnes World, stated: “The cost of developing the prescription port model and defending it against challenges from PCTs caused cash flow problems.”
Staff have been left unpaid as attempts to agree terms with major creditors largely fell flat and the bank withdrew its facilities. All of the head office staff have since been made redundant, although the firm is continuing to trade from five pharmacies.
One worker told the paper: “We knew the company was struggling because we were paid late the previous month. It was totally unbelievable to be sent home. It left a lot of us in a desperate situation with no money.”
In the year to May 2011, the firm posted a turnover of £9.23 million and employed around 65 staff. An initial meeting with creditors was due to be held at the end of last week (Friday, 25 May).
The company is a leading manufacturer of cabling equipment for use across a variety of industries. With UK market dominance, the company also has an international customer base and receives recurring business through service and maintenance contracts...
A long-established distributor of bicycle components, accessories and maintenance products which supplies more than 1,000 retail and online shops across the UK has been placed in administration. Offers are now invited by 5pm on Monday, June 30, 2025.
The company is a prominent provider of installation, commissioning, and repair services for water purification systems, serving over 30 active clients across diverse sectors such as energy, industrial, healthcare, and pharmaceuticals. With a strong r...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.