Many news and information have been raised during the past hours, regarding the bankruptcy of the Alpha Company for the Management of Pharmacies, which owns a chain 19011 pharmacies And sources in the drug market revealed that the famous chain was exposed to financial problems two years ago as a result of the accumulation of major debts that the group inherited after its acquisition of the Rushdie pharmacies chain, as well as “Image” pharmacies.
The source, who preferred not to be named, told “The Seventh Day” that the 19011 chain expanded its activity to acquire a number of famous chains only two years after the launch of 19011 activity in Egypt in 2017, including the Rushdie pharmacies chain and the Image pharmacies, indicating that the chain that did not pass On its appearance in the market, except for a few years, it paid about 450 million pounds in less than a year to acquire “Rushdy and Image”, and it also bought their debts.
The source explained that the number of branches that became owned by 19,011 reached 200 pharmacies throughout Egypt during the first half of 2020, and it also expanded in purchasing large quantities of medicines, supplies and preparations with huge debts to distribution companies and pharmaceutical companies, led by Dr. Hossam Omar Group. HO.
The source explained that the bankruptcy trustee will list the assets of 19,011 to start the process of repaying the debts, as the priority in payment will be to the holders of excellent debts from taxes and insurances, and then the division of the debtors will be made so that the debts are distributed according to the size of each indebtedness.
The Pharmacists Syndicate had opened an investigation in 2020 into a violation of the 19011 pharmacies chain of the law of practicing the profession, which stipulates that none of the pharmacists own more than two pharmacies. .