is there anyone, page-25

The "company owned" stores confuses me as by law I thought that they still must have a pharmacist owner?

API used to guarantee the franchisee loan & whist it's now on the bank's shoulders via cash flow, weren't guarantees replaced by "letters of comfort" from the wholesaler to the bank? Would that be an off B/S liability?

My question is: doesn't API still carry the debt obligation for a company store even if there is somehow a pharmacists name on the ownership list? I'm a bit far out of the loop now to know the details but am concerned about this "jewel in the crown" idea. As you say fdKen, they are up against Big W, K Mart etc.

Yes Roboshan, it's time for the 3->2 talks again.

Commentary only, DYOR.