Genactis Group Limited (05419875): administration
- Status
- Administration ended
- Administration began
- 2024-08-27
- Administrators
- Manjit Shokar, Bai Cham
- Administrators' firm
- Begbies Traynor
- Formerly
- Genactis Ltd; Genactis UK Limited
- Incorporated
- 2005-04-09
- Location
- Chatham
- Industry
- 73200 Market research and public opinion polling
Why it went into administration
- COVID-19
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Cash flow / liquidity pressure
From the administrators' statement
Genactis Group Limited (“the Company”) was incorporated on 9 April 2005 by its former director, Mr Gary Wield, to provide healthcare market research services following investment from an American trade buyer. Following the death of Mr Wield in 2015, Marijke Wield (widow of Mr Wield) was appointed as director, and subsequently appointed Ms Estelle Sommer to act as the managing director. The present director, Mr Toby Denne, was appointed to assist with the restructuring of the Company as it bordered on insolvency.
Following the appointment of the present director, a decision was made to restructure the largest of the Company’s offices (Genactis SAS) and circa 20% of the workforce was made redundant. The company was also operating an expensive building lease and the workforce overwhelmingly agreed that they could work as effectively in a remote working environment which was then implemented fortuitously ahead of the Covid pandemic. In late 2019, Mr Denne sold shares in the Company to Chris Edmonds, owner of a healthcare communications agency. The idea behind this was that in conjunction with a healthcare market access business part owned by Mr Edmonds to create a group as a platform to acquire more agencies/consultancies over time that strategically fit with the vision of supporting global life science companies bring their medicines and treatments to market.
A capital cash injection of £100,000 was made by Emotive Healthcare Communications Agency into the Company for a 36% shareholding. The present director also injected a further £25,000 (on top of £75,000 initially invested) to equalize the share stake of the two main shareholders.
Administrators' statement of proposals (2024-10-15) · Companies House register