# Gurnos Limited (02873173)

> Why UK company 02873173 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02873173

- **Status:** Administration ended
- **Administration began:** 2012-09-07
- **Administrators:** Ranjit Bajjon, Malcolm Peter Fillmore
- **Administrators' firm:** Kroll
- **Formerly:** Neolab Limited; Inhoco 281 Limited
- **Incorporated:** 1993-11-18
- **Location:** Crawley
- **Industry:** 7487

## Why it went into administration

- Creditor pressure / legal action

## From the administrators' statement

Gurnos Limited or Neolab as it was then known, was formed in 1993 but only commenced trading under tts director, John Davies, in 1999 Oue to a breakdown in the relationship with Cipla Limited, the Company's main manufacturing source, during 2009 the Company was unable to arrange for a continuity of supply and consequently suffered substantial losses and cash flow issues

On 17 May 2011, at the behest of the Company's funders, a sale of most of the Company's business and assets to Fannin (UK) Limited took place and as a result the Company ceased trading It was believed that that the residual cash and assets that remained in the Company would be sufficient to pay the liabihties not assumed by the purchaser

‘In addition to cash and debtor balances, two unsettled cases of litigation remained with the Company These comprised claims and counter claims involving the pharmaceutical companies, Eli Lilly and Company Limited (litigation in the UK) and Glaxo Smith Kline (litigation in Germany)

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02873173/filing-history/MzA2Njc2MDg3MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02873173

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.