Biotechnica Services Limited (02788026): administration
- Status
- Administration ended
- Administration began
- 2021-02-12
- Administrators
- Benjamin John Wiles, Matthew Ingram
- Administrators' firm
- Kroll
- Incorporated
- 1993-02-09
- Location
- London
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Competition / price pressure
From the administrators' statement
The Company was part of the Group. Following the Group’s acquisition of the Hampshire Cosmetics business from the Administrators of Solab Group Limited in June 2019, there was a protracted consolidation of SCl’s Inovia division from its previous Kings Cliffe site into the (formerly Hampshire Cosmetics) Waterlooville site. This led to integration issues, resulting in significant exceptional / restructuring costs in both 2019 and 2020, adversely impacting the Group’s cash and profitability.
Following the Administration of SCI on 3 February 2021, the Company was insolvent by way of cross guarantees provided to the Secured Creditors against the Group’s indebtedness.
Further details can be found at Section 4.
Administrators' statement of proposals (2021-03-27) · Companies House register