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.”
The company provides UK-wide distribution solutions, specialising in Hiab hire and transporting cargo that requires ADR certification. The business utilises its proficient drivers and fleet to effectively collect and distribute goods of all sizes, in...
This is a unique opportunity to acquire a well-established scaffolding supply business in Scotland, offering comprehensive services and working with blue-chip clients across various industries.
This reputable company is a leading supplier and installer of commercial flooring and hygienic wall cladding, known for its strong relationships and premier installer status with a market-leading manufacturer. With a broad range of installation solut...
15
|
Jul
|
Business and assets of furniture manufacturer acquired in pre-pack deal | BUSINESS SALE
The business and assets of a Wiltshire-based furniture manuf...
15
|
Jul
|
DJH continues acquisition drive with first takeover in Ireland | BUSINESS SALE
Private equity-backed accountancy and professional services ...
15
|
Jul
|
Hospitality giant acquires £12.3m-turnover hotel group | BUSINESS SALE
Property, construction and hospitality giant The Arora Group...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.