Pharmacy Care, a Wilton Manors-based pharmacy operating under the name The Medicine Shoppe, has filed for Chapter 7 bankruptcy, marking the end of over two decades of business. The pharmacy, which has nearly a dozen locations, including seven in South Florida, petitioned for liquidation on August 19, 2024, in the U.S. District Court for the Southern District of Florida.
According to the bankruptcy filing, Pharmacy Care lists over $1.6 million in debt with assets totaling just over $70,000. The filing was made by the pharmacy’s owner, Lynn T. Williams.
Details of the Bankruptcy Filing
Pharmacy Care’s largest debts include a $147,000 loan from the U.S. Small Business Administration, $94,000 owed to Regions Bank, and supplier debts of $47,000 to Smith Drug Co. and $45,000 to Amerisource Bergen Drug Co.All liabilities listed in the filing are classified as unsecured claims, meaning there is no collateral backing the debts.
The pharmacy’s assets primarily consist of office equipment and medical supplies, with just over $1,300 in accounts receivable and approximately $600 in a Regions Bank checking account.