BusinessBusiness RecoveryLeonard Curtis administrators appointed to York Pharma

Leonard Curtis administrators appointed to York Pharma

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

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

5m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

5m Emma Smith, Managing Editor