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Boots to sell 44 stores as part of plans to ‘consolidate or close’ 200

Boots hopes the pharmacies will continue to grow under new ownership
Boots hopes the pharmacies will continue to grow under new ownership

Boots has appointed pharmacy brokers Christie & Co to oversee the sale of 44 pharmacies in England and Wales as part of plans to close 200 loss-making branches this year.

It is planned for the 44 pharmacy sales to take place before May this year, and form part of Boots’ larger consolidation plan to shut 200 pharmacies before September – a plan first announced in June 2019.

Boots is “supporting colleagues in the impacted stores” and is keeping teams updated on the potential sale of their store, chief operating officer Tracey Clements said yesterday (March 2).

“We very much hope that these pharmacies continue to grow under new ownership. We are sure they will provide a fantastic opportunity for talented pharmacists to create a great local business,” she added.

Announcing its most recent financial results in January, Boots’ parent company Walgreens Boots Alliance revealed it had so far completed 28 of the planned 200 closures.

The multiple also said it has plans to expand the services offered in-store and to grow its app and other technology so patients can access its free online NHS repeat prescription service and book appointments digitally.

Ms Clements said Boots is continuing to invest in its wider store network. The multiple is making its “retail, pharmacy and online offer even more differentiated and personalised”, she added.

“Opportunity for first-time buyers”

The pharmacies up for sale are a “tremendous opportunity for first-time buyers and existing independent contractors”, Christie & Co head of pharmacy Tony Evans said yesterday (March 2).

He added that the brokers expect that “strong interest will be generated” in the 44 pharmacies, which occupy “community, high-street or healthcare environments” and have a dispensing volume of between 1,100 and more than 9,000 items a month.

9 Comments
Question: 
Would you consider buying a former Boots branch?

R A, Community pharmacist

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A B, Community pharmacist

1100 items per month seems very low, wonder where that is based?

Andrew Martin, Primary care pharmacist

"...plans to close 200 loss-making branches" then later on "a tremendous opportunity..." Really?

Alexander The Great, Community pharmacist

Boots produce their own generics, have their own specials manufacturing hub, have really expensive products for sale, and if they cant profit from it... who on earth can!

Really? Wow, Superintendent Pharmacist

Also, own their own wholesaler that we are all forced to buy from... !

 

Sarah Smythe, Information Technology

I believe Pessina owns that too , need I say more...pffffffff.

A.S. Singh, Community pharmacist

"a tremendous opportunity" referring to working towards a grave or bankruptcy 

Alexander The Great, Community pharmacist

You'd be near insane, and soon bankrupt if u buy a pharmacy now.

locum norfolk, Locum pharmacist

not completely true, for those that have nothing and aiming to be a financial success it is not worth the expanding payback period and leverage risk. Those that own many already can purchase viable pharmacies with factored risk and grow the portfolio, unfortunately a case of haves and have nots... dont buy in a consolidating market, early grave

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