Four Christian County pharmacies plus a corporate headquarters office are set to close on Sept. 2.
The Family Pharmacy locations in Ozark, Nixa, Clever and Sparta are among 21 stores that will be closed immediately, according to owner Smith Management Services.
Walgreens entered into an agreement to acquire prescription records and inventory from 20 Family Pharmacy retail locations throughout southwest Missouri.
“When Family Pharmacy locations close, prescription records will automatically transfer to nearby Walgreens pharmacies. We are committed to providing a seamless transition for patients and look forward to welcoming them to Walgreens. Patients will be receiving a letter in the mail with details on the transfer,” Walgreens media relations worker Phil Caruso said in a statement by email.
Family Pharmacy has been headquartered in Ozark since its inception.
Family Pharmacy filed for Chapter 11 bankruptcy in 2018, with executives citing financial problems and industrywide challenges as key factors in the decision.
Family Pharmacy started in 1977. Founder Lynn Morris, now a state representative and the Republican nominee to be the next Eastern District commissioner of Christian County, officially retired in April 2018, when the company sold to Smith.
According to court documents, Family Pharmacy has battled waning revenue the last several years, suffering as much as roughly $7.5 million. The company lost $3.5 million in 2018. It’s estimated the company owes over $30 million to three main creditors: The Bank of Missouri, Cardinal Health and J M Smith Corporation.
The company secured a $2 million loan from Smith Drug Company to continue normal business operations as executives negotiated a sale, which Smith Management won in August with a reported bid of $16 million. At the time, the company announced that there were no plans to change day-to-day operations at Family Pharmacy stores throughout southwest Missouri.