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Lloyds Pharmacies at risk of closure according to UK reports

Friday, 3 March 2023 14:24

Chain operates ten local pharmacies

It's being reported in the UK that the owner of Lloyds Pharmacy has put all of its 1,300 branches at risk of closure.

The business was sold to a private equity firm less than a year ago for £477 million. New owners, Aurelius, have already announced the closure of 237 of its pharmacies in Sainsbury's supermarkets.

According to The Sun newspaper Aurelius has launched a strategic review which could leads to the sale of the business or its closure.

Lloyds Pharmacy has ten outlets in the Isle of Man - making up around half of the community pharmacies on Island. The company has been experiencing staffing issues  in recent months leading to problems for people requiring NHS prescriptions. 

Lloyds Pharmacy  has 17,000 employees throughout the UK and has reportedly suffered losses for many years. It closed 76 pharmacies in 2022.

A Lloyds spokesperson told the Sun that the company regularly reviews its pharmacy estate to ensure it's operating sustainability and any decision to sell stores is taken in the interests of patients, colleagues and the business.
Manx Care has been working with Lloyds Pharmacy in recent months, and due to the Pharmacy's ongoing staffing issues has on occasion deployed staff into the Ramsey branches to support the company.
Of the potential sale or closure of Lloyds Pharmacy a Manx government spokesman told Manx Radio they were aware of the issues and were in discussion with Manx Care to have appropriate contingency plans in place.
The Pharmacy industry in the UK has lost an estimated £1.6 billion over the last decade - with pharmacy operators blaming the fact that NHS pharmacy contracts haven't kept pace with inflation. Businesses have faced massive rises in the cost of pharmaceuticals.
Chemist chains have also been required to step in and help the struggling NHS by offering more services such as vaccinations.
 

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