TWO firms that are linked to more than 20 high street pharmacies in Scotland that employ over 400 people have fallen into administration.
Scotpharm (MNA) Limited and MSLNA Healthcare Limited, both subsidiary companies that operate outlets across east central Scotland, were placed into administration last week, according to The Herald.
James Stephen, Danny Dartnaill and Benjamin Peterson of BDO were appointed joint administrators of the two companies, whose main base of operations is in Glenrothes and Lochgelly, on September 7.
Administrators confirmed that the businesses will “continue to operate as normal” after funding was secured, but they do plan on selling the pharmacies.
Scotpharm is the holding company for Barrie Dear Limited and operates 12 pharmacies.
MSLNA Healthcare Limited is the holding company for LP North Sixteen Limited, which operates four pharmacies and LP North Eighteen Limited, which operates a further six pharmacies.
A spokesperson for BDO said: “None of the subsidiary companies have been placed into administration and these are continuing to operate as normal with the assistance of senior management.
“The joint administrators have secured funding lines to support the continued trading and suppliers will continue to be paid as normal.
“The joint administrators will now seek to implement a strategy to sell the pharmacies as going concerns. Interested parties are invited to register their interest with the joint administrators as soon as possible.”
It comes after the Glasgow-based Amiry & Gilbride Healthcare Limited (AGH), the holding company for LP North 14 Limited and LP North 15 Limited, which operates 13 pharmacies across Scotland, fell into administration in May.
The group also operates two prescription collection units, which provide services including prescription locker collections and a free medicine pouching service.
Latest figures show that in July, there were 83 company insolvencies registered in Scotland, a 28% decrease from the same month last year.
In comparison, the number of insolvencies in England increased by 5% compared to the previous month, with 1931 cases compared to 1847 in June.
However, figures south of the Border were also down 5% compared to the same time last year.
