Bank breach and books blunder spur pharmacy co-op PWL rebuild

PWL is owned by its members – primarily independent pharmacies. (Image: Getty)

Mon, 18 Aug 2025

Tauranga-based pharmacy co-operative PWL has posted another annual loss, breached its bank covenants, and revealed an accounting error that double-counted inventory since 2021.Founded in 1978 by local pharmacists to serve and advocate for community pharmacies, PWL is owned by its members – primarily independent pharmacies – and reinvests profits into members through discounts, dividends, or rebates. Governed primarily by regional pharmacy owners, it focuses on service, product availability, and supply chain efficiency, giving member...

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