What came out at the end.

Two framework contracts lost, taking 41 % of revenue

Continued trading, no proceedings · fixed costs down 18.2 %

Self-administered insolvency, three of five sites loss-making

Asset deal · 186 of 241 jobs retained

GMP finding halted two product lines; key account at 60 % of revenue

Cleared in 7 months · key account retained

Shareholder exit alongside MDR recertification

EBIT margin from −3 % to +6.4 %

Prescription margins eroding, four of twelve sites loss-making

Group result from EUR 0.3m to EUR 1.4m · gross profit per site up 11 %

Twelve dormant authorisations costing EUR 0.9m a year to maintain

Off-market sale at EUR 18.9m · closed in 7 months