BERKELEY, Calif. — Elephant Pharm, a three-unit pharmacy emphasizing holistic products that has received much national attention, has closed and declared Chapter 7 bankruptcy, the company said this week.
It opened its first store six years ago here. The other two stores were in San Rafael and Walnut Creek, Calif.
“The company has been burdened with obligations that were quite difficult for a company of our size to carry," said Kathi Lentzsch, chief executive officer. "The current management team and board of directors worked diligently to grow the company to a size that could bear these obligations, but due to the current economic conditions and the tightening of the credit market, it has not been possible to raise the capital required to continue the business.”
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