I wonder if it has something to do with the fact that Sigma has...

I wonder if it has something to do with the fact that Sigma has rather unsustainable trading terms with a large discount pharmacy group(s) (6-12 months credit). Multiply that figure by a large pharmacy's monthly turnover of $100k/month over 6-12 months multiplied by the number of pharmacies that have these terms could be around the $100 million mark.

Futhermore I suspect that a lot of smaller pharmacies (ie non-discounters) that receive relatively unfavourable trading terms (1-3 months credit plus *much less* discount) would be annoyed that they are effectively paying more to subsidise the big players that continually threaten their business and very livelyhood. I see a mass exodus from Sigma coming if this isnt sorted....