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LloydsPharmacy down to fewer than 50 branches

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LloydsPharmacy down to fewer than 50 branches

There are fewer than 50 remaining branches of LloydsPharmacy , an analysis of NHS contractor data indicates.

An interactive report published by PharmData claims that as of November there are just 47 stores remaining, all of them in England. All branches in Scotland , Wales and Northern Ireland had closed by September.

The PharmData analysis shows that medium-sized (6-99 stores) companies have been the biggest buyers of LloydsPharmacy branches, accounting for 510 out of 1,089 purchases. Corporate multiples have shown the least interest, making up just 58 purchases.

The largest single buyer of ex- LloydsPharmacy branches has been Sharief Holding Limited, an operator based in the North West of England, which has bought 34 stores. Imaan Ltd, Jhoots Pharmacy and Jardines also feature in the top 10.

LloydsPharmacy – which was founded by Allen Lloyd in Warwickshire in 1973 – began 2023 as the UK’s second largest community pharmacy multiple after Boots with 1,082 branches, and has shed significant numbers of branches in every month since January – the month when it was announced that the company planned to shutter all of its 237 Sainsbury’s branches.

The following month saw the revelation that the company was selling large numbers of branches throughout the UK, as well as the publication of accounts showing it made a £66m loss in the 12 months to April 2022.

This financial report outlined the challenges facing the business and acknowledged store closure programmes, but despite widespread branch sales already being underway claimed the company was likely to continue as a going concern due to its access to a loan facility taken out by parent company Aurelius. The private equity firm completed its acquisition of the multiple in April 2022, and has reportedly now entered a bidding war for The Body Shop.

In May, Pharmacy Network News described how dozens of new companies had been hived off from LloydsPharmacy with the apparent intent to sell them off, while October saw the announcement that distance dispenser LloydsDirect had been bought by Pharmacy2U

Throughout 2023 the multiple has dodged questions around its plans by telling journalists it “regularly reviews its pharmacy estate”. However, its X (formerly Twitter) account is now informing enquiring customers that “most of our high street pharmacies have now changed hands to new ownership”.  

Several former employees shared their thoughts on LinkedIn, with one saying it was “sad to see the company cannibalised into a shadow of its former self” and another that it had once been “a great company to work with”.

P3pharmacy has approached a spokesperson regarding the company’s plans for its final remaining branches.

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