# The Urology Company Limited (07003303)

> Why UK company 07003303 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07003303

- **Status:** Administration ended
- **Administration began:** 2013-02-25
- **Administrators' firm:** Maven Capital Partners
- **Incorporated:** 2009-08-27
- **Location:** Manchester
- **Industry:** 46460 Wholesale of pharmaceutical goods

## Why it went into administration

- Creditor pressure / legal action
- Sustained trading losses
- Parent or group failure

## From the administrators' statement

21 The Company was incorporated on 27 August 2009 and operated as a distributor of pharmaceutical products to high street pharmacies and healthcare professionals. The Company 1s a subsidiary of The Urotogy Company Holdings Limited and the ultimate parent company of the group 1s Plethora Solutions Holdings plc (PSH). The wider group 1s not subject to insolvency proceedings.

22 Since incorporation the Company’s secured creditors, Maven Capital Partners UK LLP (Maven) and Galloway Limited (Galloway), invested over £2 8 million in the Company in an effort to create a business that was of sufficient size and had a portfolio of products that would enable it to be self-sufficient

23 Despite this investment, the Company was unable to establish sufficient new routes to market, or achieve sufficient scale to make it profitable. The Company was dependent on the continued support of the group, which in turn was reliant on the support of Maven and Galloway

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07003303/filing-history/MzA3NTkxNTMxNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07003303

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