The owner of one of Christchurch’s best known pharmacies has accused Westfield Riccarton’s management of refusing to agree to “sustainable rent” forcing the closure of a longstanding business that survived Covid, increasing competition and years of economic pressure.

Life Pharmacy Riccarton will close permanently on 20 November, with owner Mary King confirming failed lease negotiations with shopping centre management company Scentre Group were the main reason.

The closure follows the departure of two popular menswear retailers from the same mall, also following disputes over increased rent.

King told chrislynchmedia.com “we’ve always paid an absolute premium for our space at Riccarton, significantly more than other malls in other locations, and the management haven’t caught up with the fact that our mall is no longer a premium destination shopping experience.”

“The lease negotiations were the final nail. We were unable to get Scentre, the management company, to agree to a sustainable rent,” King said.

The pharmacy built a loyal following across Canterbury, with customers returning for its experienced makeup artists, fragrance specialists and familiar pharmacists.

King said the hardest part was the impact on the people who had helped build that reputation. “It’s a sad day and so very sad and devastating for all our amazing staff. We were certainly iconic. Canterbury shopped with us, not just our locals.”

She said the decision to close before Christmas was not taken lightly. “I couldn’t hold on through Christmas because we are on such reduced staffing levels and the mall insists on long, long days pre Christmas, usually double shifts.”

King said there was also a lot of stock to clear, and January would not work as well for a closing down sale. She acknowledged the timing was hard on staff, but said the business was using its contacts and networks to help them as much as it could.

The bond within the team was clear during Covid, when the pharmacy ran two separate teams that did not interact, in a bid to keep at least half the staff able to work if needed.

“Contributing to the problem is the new pharmacy competition, market disruptors in modern speak. Our mall is happy to put someone in direct competition and see no reason to talk rent reduction.”

The pharmacy’s impending closure is the latest in a series of departures from the shopping centre.

In July, chrislynchmedia.com revealed Australian menswear brands YD and Tarocash were pulling out of Westfield Riccarton after their parent company, Retail Apparel Group, decided not to renew their leases following rent increases. YD closed on 9 August, followed by Tarocash on 16 August.

At the time, Tarocash branch manager Mayson Downie told chrislynchmedia.com the decision was especially disappointing because trading had been strong.

“It’s a real shame because the stores were going from strength to strength and sales were strong,” Downie said.

Downie also questioned whether other retailers would follow, with further lease renewals approaching. Both menswear businesses continue operating at Dress Smart Hornby, with affected staff redeployed.

King said the changing retail environment had also placed considerable pressure on the business.

“It’s a sign of the times. For us, we survived Covid, we survived the new pharmacy chains and then petrol prices rose significantly and we can no longer survive and thrive.”

The wider cost of living crisis has added to the difficulties facing businesses reliant on discretionary spending, especially retailers selling premium cosmetics and fragrances.

“People shop with us for the beautiful cosmetics and fragrances that are appealing and desirable, but when the family budget is so squeezed it is our aspirational purchase or treat purchase that is given up,” King said.

“The lease negotiation was the leading factor in our closure, but the current economics played a part,” she said.

Scentre Group, the Australian company behind Westfield Riccarton, did not respond to questions from chrislynchmedia.com about the closure and rental concerns.

The company also did not respond when approached for comment about the departures of YD and Tarocash earlier this year.

Life Pharmacy Riccarton has launched a closing sale ahead of its final trading day.

“We close 20 Nov and we have fantastic sales running until then,” King said.