Any remaining LloydsPharmacy concessions operating in Sainsbury’s stores will be permanently closed from today, six months earlier than planned.
The pharmacy chain announced in January that all of its 237 branches in Sainsbury’s outlets would be closed before the end of 2023. This followed a strategic review that identified “changing market conditions” after LloydsPharmacy suffered another period of widening losses and falling sales in a challenging pharmacy sector. It has already closed hundreds of outlets in recent years, blaming government funding cuts and higher operating costs.
The closures were initially expected to take 12 months but were pushed forward amid reports that LloydsPharmacy has been selling off other parts of its estate. This includes Rowlands Pharmacy acquiring 30 LloydsPharmacy sites in Scotland last month.
A spokesperson from LloydsPharmacy said yesterday: “In January 2023, LloydsPharmacy announced the withdrawal of pharmacy services from all Sainsbury’s stores, to take place throughout 2023. It can now confirm that any remaining branches within the Sainsbury’s estate will close by 13th June 2023.
“Throughout the process, LloydsPharmacy has been committed to helping patients easily find a suitable alternative provision. It has kept patients informed of when services from their specific pharmacy will end so that they can transfer their nominations as needed.”
Last year, private equity firm Aurelius Group acquired McKesson UK, the owner of LloydsPharmacy and AAH Pharmaceuticals.
Commenting on the closures, Sainsbury’s said it was “finalising” plans to fill the spaces vacated by LloydsPharmacy, with their use expected to vary store by store.
NAM Implications:
- And mainly down to government funding cuts and rising operating costs.
- …pressures that are already affecting independent pharmacies in most areas.
- Inevitable fall in service level for NHS traffic.
- A developing opportunity for disruptors?
