Business & Technology
Oxford pharmacy in administration – £1.2m sale delayed
A new report filed by the administrators for Ahmeys has said only an exchanged contract with deposits held has been conducted with an agreed extension in place.
Contracts for the Oxford Road, Cowley-based company’s property sale were exchanged in July 2025, with a total deposit of £122,500 held by January 2026 against a £1.225m sale price.
Completion has been repeatedly delayed as the buyer, PharmaLearn, struggled to secure funding due to lower lender valuations and a weak property market, the report suggests.
Rather than terminate the deal which would risk higher costs, delays and a lower sale value (potentially around £900,000), administrators, in consultation with NatWest, agreed to a further six-month extension.
This was conditional on a £100,000 non-refundable deposit, which has since been received.
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Paul Appleton, joint administrator at Begbies Traynor, said: “A further extension to the date for completion was agreed, providing PharmaLearn with time to complete the transaction by June 2026 albeit we hope that the transaction will be completed well before then.
“Whilst this extension has required additional time and legal input, we remain of the view that, when compared with the available alternatives, continuing with the existing sale process is most likely to maximise the realisation for the benefit of the administration estate.
“Further work was undertaken to address the continued occupation of the property, including negotiations with Medlearn around an appropriate licence fee, as well as preparatory steps for issuing a potential notice to complete due to delays in progressing the execution process.
“Work will continue during the next reporting period to ensure all remaining matters are resolved and to bring the transaction to completion as promptly as possible.”
Shortly after being taken over by the administrators, MedLearn Limited and Pharmalearn Limited vowed to buy the pharmacy.
Faiza Saleem is a director of both purchaser companies and is also connected to Nisar Ahmad, the sole director of Ahmeys, the administrators said.
Mrs Saleem is the wife of Faheem Ahmad, who resigned from Ahmeys in January 2025 as a director and from Medlearn in January 2024.
She is also the daughter in law of Nisar Ahmad, 69, the remaining director of Ahmeys.
The 22 staff who worked at Ahmeys were transferred to the new buyer via TUPE, transfer of undertakings (protection of employment), which eliminated the need for redundancies and wage arrears.
Ahmeys started to suffer financial difficulties due to working capital pressures and a slowdown in revenue, the administrators said in a previous report.
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Nisa Local, which first opened in Botley Road in November, can now be extended after a Planning Inspector overturned Oxford City Council’s rejection.
The proposal is for a steel security shutter and a single-storey rear extension, which would provide more space for new services such as an Evri and two more Cook frozen meal freezers.
The Costa Coffee self-service machine is hoped to be on the front of the shop and will provide more floor space for Bake & Bite and the Oxford-based Natural Bread Company.
Oxford City Council refused permission in March arguing the extension would harm the character and appearance of the property.
However, planning inspector Alexander O’Doherty concluded the impact on the wider area would be limited because the extension would be largely hidden at the rear from public view.
In his decision issued on July 23, the inspector acknowledged that the extension would have some harmful effect on the appearance of the building itself, but said the benefits outweighed that harm.
The inspector noted the shop is “clearly lacking in storage space” and said the additional floor area would help it better serve local residents.
The decision also referenced numerous representations from supporters, with the inspector saying these lent “considerable credence” to the benefits of the scheme.
He added that providing these services within a residential area would encourage walking, cycling and the use of public transport by reducing the need for residents to travel elsewhere by car.
Grumpys Sweet Shop in Fettiplace Road, which operated as a cafe and collectibles shop until it became a sweet shop in 2023, has announced it will close by the end of August.
A statement from the team behind the shop said the ‘difficult decision’ was taken with a ‘heavy heart’.
The final day trading would be Friday, August 28.
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The statement said: “This hasn’t been a decision we’ve taken lightly.
“Like so many families and small businesses, we’ve felt the impact of the rising cost of living, and the increasing costs of running a business have made things more challenging than ever.
“On top of that, our current lease has came to an end.
“Renewing it would mean committing to another seven years, and after a great deal of thought, we’ve decided that this is the right time for us to close this chapter.
“While we’re incredibly sad to say goodbye, we’d love to see as many of you as possible before we close.
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“From the bottom of our hearts, thank you for making Grumpy’s Sweet Shop so much more than just a business.
“You turned it into a place filled with smiles, laughter, and wonderful memories that we’ll treasure forever.”
The owners added that ‘everything you see in the shop’ is now for sale, and offers will be considered for all fittings and displays.
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