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).
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