<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Dozens of Priceline-branded pharmacies have been placed into administration by retail giant Wesfarmers after years of financial difficulties.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Receivers KPMG said the 54 affected stores would continue to trade while receivers assessed the business.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>More than 400 other Priceline stores around Australia are not affected by the change.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/bondi-beach-shooting-young-teen-takes-bullet-to-thigh-while-shielding-two-toddlers-in-bondi-attack/0016465c-ed6a-436b-a1ec-d84cd6b9def9" rel="" target="_blank" title=""><strong><span>Teen girl takes bullet while shielding two toddlers in Bondi attack</span></strong></a><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The owner of the 54 affected stores, Infinity Pharmacy Group (IPG), operates more than 120 sites across Australia, many of which are Priceline-branded stores.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A spokesperson for Australian Pharmaceutical Industries (API), which has provided financial support to IPG, said the decision was "unavoidable".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"API has provided substantial financial support to IPG over a multi-year period with a view to assisting IPG to trade through complex and significant financial challenges and explore options," API said in a statement.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/more-than-50-priceline-branded-pharmacies-placed-into-administration/44f754b0-dc2a-46f9-bc85-5684c7c5c26a" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"API's financial support relates primarily to the wholesale supply of pharmaceutical and other products to IPG pharmacies.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Regrettably IPG's financial position has deteriorated further in recent months, and it is unable to meet its financial obligations to various creditors, including API.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"In view of this, API considers the appointment of receivers and managers is now unavoidable.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It is the most prudent approach to enable affected pharmacies to continue to trade, providing customers in the community with a consistent level of service."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/bondi-beach-shooting-investigations-continue-into-terrorist-father-and-son-phillipines-trip/44fb98ca-1bb0-484d-b790-5b895d7a633a" target="_blank"><strong><span>Inside the Akrams' $22 a night Philippine hotel</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The move has caused conflict with another creditor, Paragon Care, which supplies medical equipment to Priceline Pharmacy.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The company had been working with the Infinity Group and other parties, including Wesfarmers Health, on a payment and debt restructure plan," Paragon Care said in a statement.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"At that time, the company was confident that this plan would be agreed and executed upon in due course.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The company is therefore surprised and disappointed in the decision to appoint receivers and administrators to certain pharmacies in the Infinity Group, which has occurred without prior notice.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The company will work with the appointed receivers and administrators and other key stakeholders to support an orderly sale and/or recapitalisation process with respect to the Infinity Group, so as to maximise the return to creditors."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 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