TWO pharmacies trading under the Amcal and Guardian brands in the ACT have been placed into administration, with a key factor being "significant rent expenses" for the stores which are located in a Westfield shopping centre.
According to documents filed in the Federal Court in relation to the administration, Sigma Healthcare is a major creditor, owed $2.6 million for "inventory supplied" to the pharmacies.
Administrators of the pharmacies applied to the Federal Court for approval to extend the date for a second creditors' meeting while they explored the possible sale of the pharmacies or their assets.
Other creditors include Westpac, with a loan guaranteed by Sigma, and the landlord.
The pharmacies had unsuccessfully attempted to negotiate reduced rental arrangements prior to being placed into administration.
However under the administrator, rents have been discounted and the pharmacies have been able to continue trading.
The Court approved a delay to the next creditors' meeting which will now take place in Feb 2019.
The above article was sent to subscribers in Pharmacy Daily's issue from 11 Dec 18
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