Connect with us

Hi, what are you looking for?

Editor’s Pick

Lloyds Pharmacy to close all 237 Sainsbury’s outlets

<?xml encoding=”utf-8″ ??>

Lloyds Pharmacy is closing all 237 of its outlets in Sainsbury’s supermarkets amid fears of insufficient government funding for the industry.

The group said it was making the closures – which are thought to affect about 2,000 jobs – “in response to changing market conditions”, adding it was “currently exploring options for each individual branch”.

Kevin Birch, the chief executive of Lloyds, said: “This decision has not been an easy one and we understand that our patients and customers may have questions about how the change will affect them. We would like to thank them for their continued support and assure them that we are committed to providing a smooth transition over the coming months.”

The company did not confirm the number of jobs affected. It told the trade journal Chemist+Druggist: “Lloyds Pharmacy is committed to helping patients easily find a suitable alternative provision.”

Sainsbury’s confirmed that the closures would take place over the coming months and said it would “work with [Lloyds] to ensure customers are clear on how they can access an alternative pharmacy provision to meet their needs”.

The closures come about seven years after the supermarket sold its then 281-store pharmacy business to Celesio, the owner of Lloyds Pharmacy, for £125m. The pharmacy chain was bought last year by the investment firm Aurelius, which also recently acquired the sports fashion retailer Footasylum.

While health and beauty sales are thought to remain strong, pharmacies, like other retailers, have faced rising costs and difficulties in finding staff.

Nigel Swift, the deputy managing director of Phoenix UK, which owns the Numark and Rowlands pharmacy groups, said the Lloyds closures had to be a wake-up call for the government.

He said: “This announcement is the clearest possible sign of the dire situation facing community pharmacy in England as a result of insufficient government funding. Since the start of the pharmacy contract there has been a massive cut in real-term funding, resulting in hundreds of closures.

“At a time when the NHS is in crisis, the community pharmacy network is needed more than ever before. These closures will put even more pressure on already overstretched nearby pharmacies and dilute patient access to essential healthcare services, particularly in deprived communities.”

A spokesperson for the Department of Health and Social Care said: “Community pharmacies play a vital role in our healthcare system and we back them with £2.6bn a year. On top of this, we have announced a further £100m investment in the sector to help support services.”

They added that about 80% of people live within 20 minutes of a community pharmacy.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ??> Ava Whetstone-Magee, the founder of Avalanche Equestrian talks about the lightbulb moment which led her to start her business at the age...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The exodus of workers from the jobs market over the pandemic has weakened prospects for Britain’s economic growth, the governor of...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Will Polston, talks to Business Matters about how helping ambitious owners to maximise their potential has resulted in him becoming a finalist...

News

Elon Musk talks about his company’s Starlink project at the Mobile World Congress, Barcelona, Spain, June 30, 2021. — BRISA PALOMAR / PACIFIC PRESS/SIPA...

News

PHILSTAR FILE PHOTO The National Economic and Development Authority (NEDA) has approved seven “high-impact” projects, ranging from agriculture to transportation, the agency’s top official...

News

Television (TV) advertising is shifting toward addressable TV, a service that allows advertisers to show different ads to different audiences watching the same program,...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.