O'Flinn Limited (06082938): administration
- Status
- In administration
- Administration began
- 2025-08-06
- Administrators
- Christopher James Latos, Thomas Richard Milbourne D'Arcy
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2007-02-05
- Location
- Brighton
- Industry
- 47730 Dispensing chemist in specialised stores
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company is wholly owned by the parent company Junerace. HTB provided a term loan to Junerace to purchase the shares of the Company in July 2020 and obtained a cross guarantee and security against the Company. At this time the Company owned and operated one NHS retail pharmacy trading as O’Flinn pharmacy. During 2023 the Company also purchased a Lloyds Pharmacy trading as Lloyds Rottingdean pharmacy. The Director has explained that this pharmacy did not have a lease in place, and the Company could not trade from this site. The Director has stated that the Rottingdean pharmacy was purchased for
-3£300,000 and this loss of investment was suffered by the Company. We only have limited information and further review of this transaction will be necessary.
Junerace also wholly owns a sister company LPSD One Hundred and Twenty-Three Limited (‘LPSD’) which trades as Billingshurst pharmacy. This was the purchase of another Lloyds pharmacy. It appears that although LPSD is a separate Company income and expenses for both companies were paid into and out of the Company's bank account. We do not know why the Director did not set up a separate bank account for LPSD.
Administrators' statement of proposals (2025-09-16) · Companies House register