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Lloydspharmacy already in discussions with buyers for its 190 branches

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Lloydspharmacy has approached customers who have purchased branches from it in the past

Lloydspharmacy is already in discussions with buyers who have “expressed an interest” in 190 of its branches, C+D can exclusively reveal.

Its parent company Celesio UK told employees yesterday (October 26) it will cease trading in 190 “commercially unviable” branches across England, “through a combination of store closures and divestments”.

The multiple told C+D yesterday it is “already in discussions with some parties who have expressed an interest in our pharmacies”.

“We approached existing first-line customers, who have purchased from us previously and therefore have a known track record, and/or [are] cash purchasers, who can complete within our timescales for this work.”

“In order to facilitate the transaction, we also wanted to identify potential buyers who would be buying large numbers of pharmacies,” it added.

Lloydspharmacy was still unable to confirm to C+D which branches it has identified for sale.

Read C+D’s full coverage of the initial announcement – including Celesio UK's managing director's reasons for the sales, and initial reaction from readers – here.

17 Comments
Question: 
Are you a Lloydspharmacy employee?

Ava Denuff, Locum pharmacist

Perhaps the C and D should take all these comments seriously enough to launch into some investigative journalism. Or even the GPhC....oh, wait a minute...that will never happen.

Ian Menzies, Community pharmacist

It would be interesting to see if C&D do an article in a few months time to update on the final outcome of these 190 pharmacies. As Lloyds are already in discussion presumably a lot less than 190 will actually close. Presumably as a large company Lloyds have some sort of formula they use to decide whether a branch is financially viable or not. Just because these 196 branches fail the Lloyds test doesn't necessarily mean that someone else can't make a go of it.
I can recall an instance a few years back when they closed a branch in Surrey because it didn't meet their financial targets. When a local independant applied for a contract after the branch closed Lloyds appealed against the potential new contract.
I rather feel that whilst the ongoing cuts will have had some bearing on this situation Lloyds are rather using this as cover for some of their own internal business plans.

John Doe, Dispenser Manager/ Dispensing Assistant

Handling of the situation has been bad. A few stores in and around London (Hammersmith), a store in south Norwood and a store in Chelsea are confirmed. I believe the days for these to cease trading is may 2018

Fire Walker, Community pharmacist

All this talk of Lloyds selling off pharmacies etc should be the least of our worries. At the same time as this was announced, over in the US, pharmacy stocks took a nosedive as it emerged that Amazon has acquired pharmacy licences in 12 states.

This should not come as a surprise to anyone. We call it disruptive technologies....

http://www.zerohedge.com/news/2017-10-26/pharmacy-stocks-slammed-signs-they-may-be-next-get-amazond 

Mark Boland, Pharmaceutical Adviser

If customers prefer traditional pharmacy, then you have nothing to worry about. If Amazon is not more efficient, innovative and productive than traditional pharmacy, then you have nothing to worry about. If governments cannot realise significant savings through Amazons entry into the market, then you have nothing to worry about. 

I can see why people are worried about Amazon. 

Fuzzy Wuzzy, Dispenser Manager/ Dispensing Assistant

I remember a certain Mr Corbin referring to releasing the genius of his pharmacists....bet no one thought by release he meant dispose of them....seem like he is a parasite in the world of pharmacy

Ilove Pharmacy, Non Pharmacist Branch Manager

Hmmm, that chap not tellIngs the truth again. 

S Morein, Pharmacy Area manager/ Operations Manager

So it is just a reorganisation. Merge where they have a monopoly due to contract limitation and sell those that don't fit the model for an inflated goodwill value. Seems that all that is happening here is some further profiteering protected by contract limitation. 

Barry Pharmacist, Community pharmacist

 

Interesting to see this alongside the C&D job of the week....For Lloyds.

Relief Pharmacists / Various locaction (sic) in the South West

Competitve (sic) + Relocate fee + mileage

I would have thought they wouldn't be needing any more pharmacists. Perhaps they are happy to make well-paid ones redundant and employ at £11 an hour?

 

Ilove Pharmacy, Non Pharmacist Branch Manager

*This comment has been deleted for breaching C+D's community principles*

Ghengis Pharm, Locum pharmacist

If they're South of Watford, my money's on Day Lewis.

CAPT FX, Locum pharmacist

To anyone contemplating buying Lloydspharmacy rejects please do your due dilligence check thoroughly. Talk to in store staff for details because in 6 months time you may just be crying tears of blood. 

Beta Blocker, Primary care pharmacist

My thoughts exactly.

Know of a few branches which were taken over by another company and had nursing homes holding up the bulk of their monthly items... as soon as Lloyds sold the branches they took the nursing homes with them after selling the branches with nursing homes included.

Ava Denuff, Locum pharmacist

As a locum, I have witnessed and experienced the very same thing . Lloyds removed nursing homes/prison and MOD contracts prior to the sale. I know for a fact that the new owners were 'duped' by high figures which never materailised after the take-over. In fact, Lloyds ended up pay compensation to the new owners  before they exercised the right to hand the business back ! And the way that staff are mis-informed by Lloyds heirarchy beggars belief. It is not a very professional way to do business, yet they seem untouchable. Surely this wood amount to some sort of misconduct. (Honesty? integrity? transparency?)

Ava Denuff, Locum pharmacist

**of course it's would and not wood. 

Fuzzy Wuzzy, Dispenser Manager/ Dispensing Assistant

Completely agree, know of a branch only just sold and they even sent someone in to move out stock that the new company had paid for.....crooks and thieves!

Ilove Pharmacy, Non Pharmacist Branch Manager

Add Liars to that, though Waldron my remove the post as he dislikes that word even if it fits.

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