Iridium Top Bidco Limited (07042555): administration
- Status
- Administration ended
- Administration began
- 2012-12-20
- Administrators
- Anne Clare O'Keefe, Alastair Paul Beveridge, Simon Jonathan Appell
- Administrators' firm
- AlixPartners
- Formerly
- De Facto 1716 Limited
- Incorporated
- 2009-10-14
- Location
- Manchester
- Industry
- 70100 Activities of head offices
Why it went into administration
- Funding withdrawn / unable to refinance
- Over-expansion / investment not recovered
- Regulatory change or action
- Competition / price pressure
From the administrators' statement
21 The Company 1s a holding company and part of a global group of compamies (the Group) A full group structure can be found at Appendix A
22 The Group provides global healthcare logistics and achieved rapid growth in the late 1990s, as pharmaceutical companies sought to outsource clinical transportation
23 The Group’s financial performance was negatively affected by the impact of the 2008 recession on the pharmaceutical industry and a consequential decrease 1n clinical research and development spending. In addition, large clinical tnals serviced by the Group completed and market competition increased
Administrators' statement of proposals (2013-01-25) · Companies House register