'Market conditions' lead Lloydspharmacy to merge branches
Lloydspharmacy has decided to close a branch in Weston-super-Mare and merge it with another store, due to "the impact of current market conditions”, it has told C+D.
The store on Waterloo Street will be “fully closed by September 30” and will merge with the Lloydspharmacy on Whitecross Road, as part of the multiple's “ongoing portfolio management”, it told C+D yesterday (August 29).
The relocation of "two major surgeries" contributed to the merger decision, it added.
“Alternative options” for staff
The multiple is discussing “alternative options” for employment with “a very small number of colleagues” from the Waterloo Street branch, it said.
Lloydspharmacy stressed that patients affected by the closure would continue to be served by the branch on Whitecross Road.
“We hope that by consolidating the two pharmacies we will be able to offer our customers a greater level of service,” it added.
The multiple did not comment on whether any further closures are anticipated.
In June, Lloydspharmacy’s parent company blamed the category M clawback and funding cuts in England for its "significant" drop in earnings.