Date Published: 1st February 2012
Willand Pharmacy, which went into administration in April last year has been sold to an independent pharmacist, Adis Kikic.
The original pharmacy foundered when Tesco opened a pharmacy operation locally. Trading reduced to such an extent that the business was nearly forced into a compulsory liquidation until national corporate rescue and recovery specialists Begbies Traynor secured agreement from creditors for an Administration. Ian Walker from Begbies Traynor’s Exeter office has been trading the business since May, when offers were sought from prospective purchasers.
After a great deal of interest, a buyer was found in August, and the deal finally came together in December, when Mr Kikic’s offer was accepted.
Willand Pharmacy is now trading successfully offering a patient focused service, and in fact business has been better than expected, according to Mr Kikic. “We have taken the business back to core pharmacy focused products and services, which we intend to build on. In addition to our free prescription order, collection and delivery service, we have partially converted a proportion of our retail space into a consultation room from which we intend to provide future services. We’ve already launched a Stop Smoking service, provide Medicine Use Reviews, the New Medicine Service and will be offering flu vaccinations from September. In the very near future we shall be launching diabetes, cholesterol and blood pressure screening as well as a weight management service. At the moment we will be offering these as private services, but we will be in close touch with our local NHS Health Centres over possible future developments.
The business is going well, and we’re really pleased with the level of support and acceptance we’re getting from our local community. We expected a dip in prescription volume when we started, but it simply hasn’t happened due to much appreciated local support.”
Ian Walker comments, “The sale means we can realise a dividend for creditors, while securing the continuation of an important service business for the Willand community. We wish Mr Kikic the best of luck with his exciting plans for the future.”
Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.
Julie is a member of the Insolvency Practitioners Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.