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

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

1w Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

1w Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

4w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor