Lloydspharmacy has gone into liquidation with a debt of £293m still owed to creditors, according to documents filed by its liquidators on Companies House last week.
The pharmacy chain appointed Turpin Barker Armstrong Accountants on January 16 to handle the proceedings as it ended a year-long period of divestment under its new private equity owner Aurelius.
The liquidators revealed that the business owes £293m to 514 creditors, which includes £228m to its former owner Admenta UK and £50m owed to Aurelius Crocodile, a holding company used to control the business.
In a statement of affairs, the liquidators said only £8.2m of assets can be realised for the pharmacy chain’s “preferential creditors” and £800,000 for its unsecured creditors.
Private equity firm Aurelius, which now owns The Body Shop, bought LloydsPharmacy in 2021 for £477m.
The liquidation comes after the chain went through a year-long divestment campaign under its new owners and exited the high street in November last year.