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Ailing LloydsPharmacy sees losses hit £181m as it plunges deeper into red


Ailing LloydsPharmacy sees losses hit £181m as it plunges deeper into red

Sarah Bridge, Financial Mail on Sunday

One of Britain’s largest pharmacy chains has plunged deeper into the red.

Figures filed by Lloyds Pharmacy reveal that sales remained flat at £2.2 billion, but pre-tax losses widened to £181 million in the year to March 31, 2018, up from £149 million the previous year.

Directors described the year as ‘exceptionally challenging’.

The company has already closed or sold more than 200 stores in its network.

Struggling: The company has already closed or sold more than 200 stores in its network

Struggling: The company has already closed or sold more than 200 stores in its network

Struggling: The company has already closed or sold more than 200 stores in its network

Former boss Cormac Tobin left the company at the end of 2017, a week after the first wave of closures was announced.

A company spokesman said: ‘We have experienced a challenging environment due to – amongst other factors – cuts in pharmacy funding and living wage increases.’

Lloyds was recently hit by a wave of strikes in Ireland as employees protested against zero hours contracts and a lack of sick pay or paid holidays.

Tensions: Lloyds was recently hit by a wave of strikes in Ireland as employees protested against zero hours contracts and a lack of sick pay or paid holidays

Tensions: Lloyds was recently hit by a wave of strikes in Ireland as employees protested against zero hours contracts and a lack of sick pay or paid holidays

Tensions: Lloyds was recently hit by a wave of strikes in Ireland as employees protested against zero hours contracts and a lack of sick pay or paid holidays

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