Mon, 16 Sep 2024 | ADMINISTRATION
A pharmaceutical company based in Liverpool has fallen into administration. TriRx Speke Limited, which trades as TriRx Pharmaceutical Services, traces its roots back to a business that produced penicillin during the Second World War.
The company employs 280 staff at its drug substance facility in Liverpool. The site is described as offering “state-of-the-art biopharmaceutical production [... including] fermentation, spray drying, coating, pre-mixing and large molecule biologics (mAbs, recombinant proteins).”
The factory was used by the government to manufacture penicillin during the Second World War, making it one of the first two factories in Europe to do so. Last year, the site was the location for the launch of the Liverpool City Region’s Life Science Investment Zone status.
Recently, however, the company had become loss-making, while Callodine Commercial Finance held a registered charge against the business. Oliver Wright, Christopher Bennett and Matthew Callaghan of FTI Consulting were subsequently appointed as joint administrators on September 12 2024.
Joint administrator and FTI Consulting Senior Managing Director Oliver Wright said: “Today marks a challenging day for everyone involved with the company. TriRx Speke Limited operates one of the UK’s leading sites for fermentation-derived products, developing and manufacturing active pharmaceutical ingredients for the veterinary industry.”
Wright added that TriRx Speke’s workforce and directors had “worked tirelessly” with stakeholders, including the firm’s US parent company TriRx, to resolve the situation and secure the business’ future, in order to continue production during a sale process.
Wright continued: “The administration team will focus on working with employees, the key customer, subcontractors and suppliers to continue production over the next few weeks, while pursuing an accelerated sale of the business.”
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