Supermarket chain Morrisons has decided sell many of its in-store pharmacies as it looks to let go unviable assets to cut expenses.
Morrisons is now promoted by private equity firm Clayton, Dubilier & Rice (CD&R), and it has decided to sell each pharmacy branch individually and not collectively.
Pharmacies would remain open in the stores, but would come under the new brand of any eventual buyer.
The customers are not expected to be impacted by the sales.
The new move is the latest step in Morrisons’ plan to streamline operations and refocus on its core supermarket business.
Morrisons had earlier reported a loss of £381 million, largely due to increased borrowing costs.
Chief executive Rami Baitieh has said the cuts are necessary to reinvigorate the supermarket chain, which is going through a difficult period.
Last year, it closed four pharmacies, along with 52 cafés, 17 convenience stores, 35 meat counters, and 13 florist sections, impacting 300 jobs.
The pharmacy sector in England is going through a major crisis with increasing expenses and insufficient NHS funding.
According to the National Pharmacy Association, around 1,400 pharmacies in England have closed down since 2017, depriving many communities of access to local pharmacy services.
The recent announcement by chancellor Rachel Reeves to raise business rates and the minimum wage is expected to add to the strain on community pharmacies.
