28th November 2018
Tenacity secures successful sale of historic pharmacy
We were recently delighted to successfully complete the sale of the shares of Tomlinsons of Lytham Limited on behalf of our client, Ian Fleming.
Tenacity secures successful sale of historic pharmacy

"My grateful thanks to Andrew and the team for helping us to realise the sale of our pharmacy. We really appreciate how your commitment, encouragement and negotiations achieved the best result".

 

 

Tomlinsons Chemists have been dispensing health and beauty advice in Royal Lytham since 1850. The Pharmacy is one of the few continuing businesses in Lytham from that time. In 1924 the Pharmacy was bought by Thomas McNeal Tomlinson, and has remained Tomlinsons Chemists since then. Ian and his wife Anne acquired the business in 2000. Ian had been involved with the pharmacy since starting as a Saturday assistant in 1975.

 

Our marketing began in September 2017 shortly after the major clawback announcement in August that year. We quickly secured multiple offers and an agreement to purchase. When market conditions took a turn for the worse at the beginning 2018 the purchaser withdrew. We remarketed the business in the spring and notwithstanding the difficult conditions, a second buyer and sale was swiftly agreed. Unfortunately, the buyer’s family circumstances resulted in a second aborted sale.

 

A third buyer was swiftly secured, and the sale completed promptly at the end of October 2018 at a higher price than the original sale price!