Pre-pack sale rescues 150-year-old pharmacy

Spa Pharmacy, a 150-year-old community pharmacy in Cheltenham, has been sold to Medicine Clinic Pharmacies through a pre-pack administration after an expedited sale process generated 18 offers and preserved all employee jobs.

Simon Wall and Brett Barton of bk plus were appointed joint administrators after the pharmacy encountered financial difficulties in June 2026. The administrators immediately launched an accelerated mergers and acquisitions process with Christie & Co, with Richard Thomas and Jonathan Board leading the search for a purchaser.

Medicine Clinic Pharmacies agreed the pre-packaged acquisition immediately following the administrators' appointment. The purchaser assumed day-to-day control under a management agreement completed in less than a week, allowing the pharmacy to reopen and continue serving local patients while formal completion remains subject to NHS change-of-ownership approval. The purchase price was not disclosed.

Christie & Co invited best and final offers within one week and received 18 bids, which it said demonstrated continued strong buyer demand in the pharmacy sector. All employees were retained through the transaction, while bk plus said it expects the administration to produce a return to creditors.

The pharmacy occupies premises on Rotunda Terrace in Cheltenham and had operated for many years as an independent business. Medicine Clinic Pharmacies said it plans to work with the former owners as it seeks to stabilise and rebuild the operation.

HCR Legal advised on the transaction.