A Liverpool pharmaceutical factory employing 350 people calls in administrators and now faces a fight for its survival with a buyer being sought for the business. Tony McDonough reports
Administrators are seeking a buyer for a troubled south Liverpool pharmaceutical factory that employs 350 people.
In early September the US-owned TriRx filed a Notice of Intent to appoint an administrator. On Friday administrators from FTI Consulting were appointed to take charge of the business and try to find a buyer.
Following the original announcement the company, based in Speke, said its problems stemmed from a “current situation with its core customer”.
In a statement on Friday Oliver Wright, joint administrator, said: “Today marks a challenging day for everyone involved with the company.
“TriRx Speke Limited operates one of the UK’s leading sites for fermentation-derived products, developing and manufacturing active pharmaceutical ingredients for the veterinary industry.
“However, the business has been loss making, resulting in a significant funding requirement.
“The company’s directors and employees have worked tirelessly with key stakeholders in an effort to resolve the situation and safeguard the future of the business.
“Despite the appointment of administrators, the directors and the joint administrators are hopeful that a sale can be agreed in the coming weeks.
“The administration team will focus on working with employees, the key customer, subcontractors and suppliers to continue production over the next few weeks, while pursuing an accelerated sale of the business.”
In July 2023 the company announced a £10m investment to enhance its capabilities to manufacture monoclonal antibodies at the site. This was part of a plan to create a £320m life sciences Investment Zone in Liverpool city region.