East of England Co-op to sell off pharmacy and opticians businesses

'Market conditions have meant these businesses have struggled to make a sustained positive contribution, despite significant investment'

East of England Co-operative has announced the sale of its opticians and pharmacies.

The society said the 11 stores were not making enough money despite investment, in a market described as “exceptionally tough” by the National Pharmacy Association (NPA).

The NPA says government funding cuts and inflated wholesale prices for medicines have put a squeeze on the industry.

East of England said it hoped to transfer the businesses as going concerns, and “protect the positions of our colleagues”.

The branches affected include six pharmacies – three in Ipswich and one each in Felixstowe, Stowmarket and Saxmundham, and five opticians, in Ipswich, Felixstowe, Lowestoft and Clacton and Stanway.

The society added: “Market conditions have meant these businesses have struggled to make a sustained positive contribution, despite significant investment.

“As a result of this we have placed them on the market for sale.”

In this article


Join the Conversation