Wesfarmers attacks Priceline franchisee’s debt-fuelled expansion spree

Wesfarmers has denied rumours of Priceline pharmacy closures after placing its largest franchisee, Infinity Pharmacy Group, into receivership, saying the affected stores remain open as KPMG and Teneo pursue a group sale amid roughly $400 million in creditor claims and strong buyer interest ahead of end-February indicative bids.

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