Avara Avlon Pharma Services

Type
Bankruptcy
Country
United Kingdom
Region
South East (England); Berkshire, Buckinghamshire and Oxfordshire; Oxfordshire CC
Location of affected unit(s)
Avonmouth
Sector
Manufacturing
(20 - 21) Manufacture of chemicals and pharmaceuticals
21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
21.1 - Manufacture of basic pharmaceutical products
270 jobs
Number of planned job losses
Job loss
Announcement Date
15 February 2019
Employment effect (start)
Foreseen end date
30 April 2019

Description

Avara Avlon Pharma based in Avonmouth, Bristol has announced that it is entering administration placing all 270 jobs at risk of redundancy. The decision comes after a major contract has ended, leaving the company in a difficult financial position. The business which was part of the AstraZeneca group until 2016 has agreed a deal with the former owners which will keep the business open until the end of March 2019. However, if no buyer is found for the company and its assets, then all 270 jobs will be made redundant in April 2019. 

Sources

Citation

Eurofound (2019), Avara Avlon Pharma Services, Bankruptcy in United Kingdom, factsheet number 97322, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97322.