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Lloyds Pharmacy has entered voluntary liquidation owing its 514 creditors over £293m.
As first reported by Chemist and Druggist, the company – which is now known as Diamond DCO Two Limited – filed documents for voluntary liquidation with Companies House on 22nd January.
The documents reveal it has appointed Martin Armstrong and Andrew Bailey of Turpin Barker Armstrong Accountants to handle the liquidation.
The liquidators’ statement of affairs shows that while the company owes £293m it can only realise £8.2m of assets for its preferential creditors and and £800,000 for its unsecured creditors.
The majority of this figure is owed to its current and former owners, Diamond DCO One, Aurelius Crocodile and Hallo Healthcare.
Lloyds began offloading its store estate last year when it closed all 237 of its stores located inside Sainsbury’s and then commenced a disposal programme that concluded on 26 November.
The programme saw it divide its assets into 82 smaller companies which were all incorporated between November 2022 and June 2023.
The period also saw CEO Ken Birch step down from his role last month after only eight months in charge.
