After a year-long divestment spree, LloydsPharmacy has entered into liquidation and appointed Turpin Barker Armstrong Accountants to handle the process.
In its statement of affairs report, the liquidators confirmed that the pharmacy group owes £293m to 514 creditors.
This includes £228m owed to the group’s former owner Admenta UK and £50m to Aurelius Crocodile – a holding company that was used to control the pharmacy business.
However, creditors are set to lose out on approximately £255m as only about £8.2m can be recovered for preferential creditors and £800,000 for its unsecured
creditors, the liquidators said.
The healthcare chain was acquired by Aurelius when the investment firm took over its parent company, McKesson UK in 2022 for £477m.