Thread regarding Sears layoffs

Liquidating pharmacies

OK, probably a very stupid question, but I was genuinely curious. How do they liquidate pharmacies? After all, they can't just mark down Viagra or Penicillin 80% off and let anyone buy it. Do they just transfer the stuff to one of the few remaining stores with pharmacies in another state? And if so, what would they do with all the stuff, after the last pharmacy closes?

I'm sure many companies like Rite-Aid, CVS, etc., have dealt with this, but I was honestly wondering what the procedure was. Just a wild guess, maybe they sell the remaining inventory to whatever store will be taking over the pr-scrip-ions? Or maybe not.

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| 1541 views | | 10 replies (last February 25, 2021) | Reply
Post ID: @OP+19ro4475

10 replies (most recent on top)

I'd worry that the pills were expired.

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Post ID: @9blf+19ro4475

All the records will be stored in Eddie's basement, or the hold of his yacht.

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Post ID: @1yys+19ro4475

In many cases, the pharmacy wholesaler buys back the inventory.

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Post ID: @1qmc+19ro4475

As far as the viagra goes. The current goodrx coupon price for viagra at the grass valley, CA Kmart pharmacy is 81% off list price for a 30 day supply so they are going to have to to better then that LOL 🤣🤣. Of course save mart pharmacy in grass valley is offering it for less at 98% off list price with goodrx. Kmart can’t even be competitive with viagra for goodness sake!! (On a side note I can’t believe I actually spent time looking this up 🤣)

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Post ID: @1dww+19ro4475

Interestingly enough when (or if LOL) corporate no longer exists there are specific arrangements made for compliance issues, employee records/ W2s, pharmacy records and other legal requirements with record keeping vendors. It’s all part of a company wind-down process. Third party record keeping companies deal with all of these issues for the legally required time frame after a company goes completely under.

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Post ID: @1dwa+19ro4475

They should put up a banner "Exciting News: Viagra 80% off", lol. But seriously since you can't legally have a liquidation sale, I would assume they would have some type of agreement with the vendors to buy back the non-expired product.

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Post ID: @1mvq+19ro4475

To the poster below, if they are going to mark down Viagra 80% off, there won't be too many "non-excited" patients, LOL! But seriously, LOL, thanks for the insight. In some cases (like the recent closures in MD, & PA) there are no more in-state Kmart pharmacies to transfer records to, so maybe they keep them at corporate as you suggested. Of course, when corporate ceases to exist, then what happens will be another question LOL!
Thanks again!

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Post ID: @1gjn+19ro4475

Oops, typo 🤣. To add what I wrote below, inventory can also be destroyed or returned to vendor. Some records must be stored for a specific # of years depending on state and federal laws and will be sent to either a nearby Kmart store or cooperate for storage. There are very state and federal specific laws regarding pharmacy wind-down processes.

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Post ID: @vel+19ro4475

What happens to the non-exciting patients?

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Post ID: @blc+19ro4475

Typically the local pharmacy (rite-aid, Walgreens, CVS, etc) that has been contracted to take over exciting patients records/perceptions at the closing Kmart pharmacy, will also purchase any remaining inventory that is at the Kmart pharmacy.

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Post ID: @sdq+19ro4475

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