FRP Advisory named administrator for M&A Pharmachem

The collapse of a Bolton-based medicine manufacturer has led to the loss of more than 80 jobs. M&A Pharmachem has provided medicine including paracetamol to chemists including Boots for over 40 years.

FRP Advisory has been appointed to the administration of M&A Pharmachem. Partners Anthony Collier and David Acland are leading the process, and are now looking for buyers of the business’ assets, including the company's stock, property and intellectual property.

Collier noted, "M&A Pharmachem was a significant employer in the local area. Without urgent investment, the business was unable to continue and has since closed. We’re working with all staff to support them through this difficult time and will help impacted staff in their claims."

According to documents filed with Companies House, M&A Pharmachem's turnover had plummeted to £3 million from £15.5 million, over the 12 months leading to January 31, 2021. Meanwhile its pre-tax losses doubled from £3 million to £6 million.

Prior to its collapse, the company was marketed for sale as the directors sought urgent investment to enable it to continue operating as a going concern. However, given financial challenges facing the business and without the completion of the sale, specialist business advisory firm FRP was appointed as administrator and operations have ceased.

Founded in 1977, M&A Pharmachem is a manufacturer of analgesics, based in Bolton. The firm has an existing relationship with Boots, AAH and Phoenix. As of the news that the firm went into administration, some 84 employees have been made redundant.