Wed, 13 Jun 2018 | ADMINISTRATION
Pharmaceutical manufacturing business Purogenix Ltd and Purogenix Holdings Ltd has been placed in administration, having “[run] out of cash before fully establishing itself.”
KPMG’s Restructuring division appointed Steve Absolom and Rob Croxen as the joint administrators, and are now on the hunt for buyers for Purogenix’s business or assets.
The Kent-based company, which creates the Amoxicillin antibiotic using a biogeneric manufacturing process, stopped its trading operations at the end of last year as a result of running out of necessary funds. It had since been searching for investors to provide the company with financial support, but was unsuccessful in acquiring any investment.
The business is located in a 129,000 square feet freehold facility in Sandwich, Kent.
Purogenix Ltd employed 45 members of staff prior to going into administration, and have retained a select few to assist the KPMG administration team with the sales process.
Steve Absolom said: “Purogenix Ltd is a relatively young business which had invested heavily in their facilities and sadly ran out of cash before fully establishing itself.
“This is a very interesting and innovative business – manufacturing Amoxicillin using cost-effective and environmentally friendly technology. The administration team would be very interested in hearing from anyone who may be interested in this business, or its assets and facility in Kent.”
Offers a variety of services including domestic assistance, medication administration, companionship and palliative care, as part of a 24/7 service. Care Quality Commission with a rating of ‘Good’ in all domains. Contractually provides its services t...
LEASEHOLD
Currently operates from a number of restaurants, all of which are situated in prominent trading locations and benefit from high levels of footfall. Long-standing brand with a multitude of excellent reviews online. All dishes are prepared in store by...
FREEHOLD
Specialises in commercial landscaping, maintenance, restoration and ecology services. Has won multiple awards throughout its time in operation. Embraces works of all sizes and complexities, undertaking a diverse range of projects and working to ensur...
LEASEHOLD
|
09
|
|
Dec
|
Scunthorpe construction group call in administrators | ADMINISTRATION
Scunthorpe-based Clugston Group and Clugston Construction ha...
|
06
|
|
Dec
|
KPMG agrees to sell pensions arm | DIVISION SALE
Professional services network KPMG has announced that it has...
|
05
|
|
Dec
|
What a Labour government would mean for UK entrepreneurs | BUSINESS NEWS
Private business mergers and acquisitions expert Sue Green o...
Sign up to receive our acquisition alert emails to get your FREE guide
|
09
|
|
Dec
|
Scunthorpe construction group call in administrators | ADMINISTRATION
Scunthorpe-based Clugston Group and Clugston Construction ha...
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
|
27
|
|
Sep
|
Administrators called in for Northern polythene manufacturing firm | ADMINISTRATION
Total Polyfilm, a manufacturer headquartered in Preston, has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources