‘Rents a risk’ for chemist chain Hickey’s

The directors of one of the largest independently owned pharmacy groups in the country, Hickey’s, has warned that excessive rents “represent a threat to the business as it is currently structured”.

According to accounts just filed by Hickey’s Pharmacy Ltd, “the company is engaging with landlords and with its advisors to achieve the necessary restructuring of excessive lease costs and/or guarantee obligations and is optimistic that this will be successful”.

The accounts show that the firm returned to pre-tax profit, recording €1.37m in the 12 months to the end of February 28, following a pre-tax loss of €1.1m in fiscal 2013.