LloydsPharmacy shuts 190 UK outlets, blames it on govt funding cuts
Date: 2017-10-27   Author: Ojaswita Kutepatil  Category: #news

LloydsPharmacy shuts 190 UK outlets, blames it on govt funding cuts

LloydsPharmacy will cease trading in nearly 190 stores across England, as announced by the chain’s Coventry-based parent company in Celesio UK.

The managing director of LloydsPharmacy, scarcely revealed that the organization’s decision to shut down the stores was in response to the changes made in government policies regarding extensive fund & reimbursement cuts over the past year.

Experts state that quite a percentage of staff may be affected due to the company’s decision, as the firm employs a workforce of around 17,000 across its 1500 pharma stores. However, according to a spokesperson for LloydsPharmacy, the company would be taking effective measures to support its staff and minimize disruption for patients. No confirmation was given regarding the number of staff that could be affected by this move.

The management’s decision to close down stores will also lead to lesser access to qualified healthcare professional and medicines. In consequence, this would increase pressure on the other parts of the National Health Service (NHS) in England, cite sources.

According to reports, the changes in government policies over past years have eventually made the operation at several Lloyds Pharmacy stores commercially unviable. Authorities state that the decision to close down the pharmacies was necessary for the business to adapt to the changing landscape of the healthcare industry. A spokesperson further revealed that the company aims to adopt the emerging digitalization trends that would shape a new framework and ensure its business sustainability in the future.

It has also been reported that Celesio UK further aspires to work closely with the department of health and NHS England – a move that would allow the pharmacy giant to innovate, invest, and make necessary improvements to enhance its service portfolio. Moreover, in an attempt to mitigate the impact on patients and staff as much as possible, the company will be looking for potential buyers & other alternatives for the affected pharmacies in the area.



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Ojaswita Kutepatil

Ojaswita Kutepatil

Ojaswita Kutepatil, a mechanical engineer by qualification, worked as a BDE and Technical Engineer before switching her profession to content writing. Currently, she works at AlgosOnline. as an Content writer, where she pens down write-ups pertaining to the market res...

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