Leonard Curtis administrators appointed to York Pharma
Specialist pharmaceutical company unable to refinance before repayment deadline
Specialist pharmaceutical company unable to refinance before repayment deadline
York
Pharma has appointed administrators from Leonard Curtis after it
failed to find re-financing to pay off a $750,000 (£455,000) loan.
Andrew Poxon and John Malcolm Titley of
Leonard Curtis
were appointed joint administrators after York’s directors were unable to
refinance a loan repayable by 29 July.
York’s directors took a line of credit from Uluru for $1m on 7 April, of
which $750,000 plus accrued interest is outstanding.
But their attempts to find alternative funding and financing to meet working
capital requirements at the specialist dermatology drug manufacturer will not be
completed by the repayment date. Uluru has assigned the loan to RH Acquisitions.
Further reading:
Mazars called in at Livingston FC
The numbers you crunch tell a story. Your expertis...
15yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleBody Shop, Ted Baker, Farfetch, MatchesFashion and Wilko among latest retailer insolvencies. Number of businesses in trouble are the highest in five y...
View articleInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View article