Last week pharmacy chain Pharmore Pharmacies went into voluntary administration after 23 years as a result of the inability to undertake necessary restructuring of its operations and an overhead structure that exceeded its revenue base, says the administrator Brooke Bird.
Joint and several administrators of the company Robyn Erskine and Peter Goodin of Brooke Bird performed various head-office administrative support functions on behalf of 17 independently-owned and operated pharmacy stores.
In a joint statement Erskine and Goodin say: “The individual pharmacies are not subject to our appointment and continue their operations independent to this process. The employees of the pharmacy stores ought not to be impacted by our appointment.
“Each of the individual pharmacies have their own buying, supply and account payment arrangements and suppliers have been requested to deal directly with the individual pharmacies in this regard without reference to us.”
A circular to the creditors of Pharmore Pty Ltd was posted on 6 February this year by Brooke Bird advising them of the appointment and notifying them of the forthcoming creditors’ meetings.