Jhoots Pharmacy chain could face insolvency after Lloyds Bank high court application
Struggling company, which has run more than 100 outlets, has been criticised by MPs over claims it failed to pay locum pharmacists
TL;DR
- Jhoots Chemist (trading as Jhoots Pharmacies) faces a high court application for insolvency proceedings by Lloyds Bank.
- The company is accused of owing locum pharmacists £670,000 in unpaid fees.
- MPs previously criticized Jhoots for non-payment of staff, landlords, and suppliers, and other operational concerns.
- Jhoots Chemist, owned by Sarbjit Singh Jhooty, reported creditors exceeding £5m and a loss of almost £1.9m in its latest financial year.
- Lloyds Bank holds 16 unsatisfied charges against the company.
- Sarbjit Jhooty's brother, Manjit Jhooty, operates separate branches under JHL Pharmacy and states his business is unaffected by the application.
- Allied Pharmacies took over the running of 60 Jhoots stores in November.