# Iridium Top Bidco Limited (07042555)

> Why UK company 07042555 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07042555

- **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- Funding withdrawn / unable to refinance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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07042555/filing-history/MzA3MTcyNjU4NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07042555

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