The liquidators of Diamond DCO Two Limited – the company formerly known as Lloydspharmacy – are seeking to increase their payment, a new notice has revealed.
Lloydspharmacy liquidators Turpin Barker Armstrong (TBA) last month (May 23) published a public notice alerting creditors to a virtual meeting scheduled for next week (June 11).
Read more: Lloydspharmacy: £40m locum tax ‘directly impacts’ £2.6m staff claims
“The purpose of the virtual meeting is to form a liquidation committee and to increase the liquidators’ renumeration,” the notice said.
TBA said that a “decision is to be sought from the creditors” on the increase during the meeting.
“Votes disregarded”
“In order for their votes to be counted, creditors must attend the virtual meeting and vote either personally or by proxy,” it added.
Creditors “must also have submitted proof of their debt – if not already lodged…by no later than 4pm on the business day before the meeting”, it said.
Read more: Lloydspharmacy goes into liquidation with £293m owed to creditors
“Failure to do so will lead to their vote(s) being disregarded,” it added.
“If any creditor has not received this notice or requires further information please contact the joint liquidators,” it said.
Staff claim cash at risk?
In January 2024, Lloydspharmacy went into liquidation owing some 514 companies and people a total of £293 million.
Lloydspharmacy was the second largest multiple in the UK two years ago, before C+D exclusively revealed that the company had sold all its high street branches in November 2023.
In March, the liquidators’ statement of receipts and payments made between January 2024 and January 2025 revealed that it paid out £500,000 to previous Lloydspharmacy holding company Aurelius Crocodile – with an estimated £16m to paid out to it in total.
Read more: Lloydspharmacy confirms ‘successful sale’ of all community pharmacies
And it showed that the liquidators themselves were paid £290,000 over the year.
But it revealed that further payments of cash owed to the old owners and “unsecured creditors” – including former employees with claims against the company – have been put at risk by an HM Revenue and Customs (HMRC) bill of almost £40m in locum payment tax.
The liquidators had “received provisional [employment] claims from 86 tribunal claimants amounting to £2,625,000” at the time, it said.
