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Three pharmacies in the West Midlands and Cheshire have been sold out of administration shortly after insolvency proceedings began.

Earlier this month, FRP Advisory was appointed joint administrator to Westminster Park Pharmacy and Owens Chemist in Chester, as well as A Karims pharmacy in Walsall. All three pharmacies had “recently closed prior to the acquisition” said broker Christie & Co.

The pharmacies were sold for an undisclosed price to RJR Chem Ltd, an independent chain owned by brothers Jaspal and Ricky Rahania.

Shaun Hudson, partner at FRP Advisory and joint administrator of Ph4rmacy Limited and Salrook Healthcare Limited, said: “Pharmacies play a crucial role in both the UK healthcare system and on the community high street, so we are pleased to have once again partnered with the market-leading specialists Christie & Co to secure a new home for these sites.”

Jaspal Rahania, co-owner of RJR Chem Ltd, commented: “We are delighted to acquire these sites and look forward to integrating them into our existing group, where we have a group motto of combining traditional pharmacy practices with cutting-edge technology.”

Jonathan Board, director and head of pharmacy at Christie & Co, added: “We are very happy to have facilitated this transaction, ensuring that these much-needed community pharmacies are reopened to the patients and communities who rely on them, as quickly as possible.

“Working closely with Shaun Hudson and Ian Corfield from leading specialist corporate advisory firm, FRP Advisory, our accelerated sale process has found a range of highly experienced potential buyers. This deal with Jas and Ricky Rahania continues to demonstrate the resilience of the UK pharmacy sector and the opportunities for growth for well-capitalised purchasers.”