• Paragon Care notes appointment of receivers and administrators to 54 pharmacies in Infinity Retail Pharmacy Group
• Company was working on a payment and debt restructure plan with Infinity Group and other parties
• Paragon Care will work with appointed receivers and administrators to support an orderly sale and/or recapitalisation process

Paragon Care Limited (ASX:PGC) has announced that receivers and administrators have been appointed to 54 pharmacies in the Infinity Retail Pharmacy Group. This comes as a surprise to the company, as it had been working with the Infinity Group and other parties, including Wesfarmers Health, on a payment and debt restructure plan. At the company's Annual General Meeting held on 19 November 2025, the Chair had expressed confidence that this plan would be agreed and executed upon in due course. However, the decision to appoint receivers and administrators has occurred without prior notice to Paragon Care. The company will now work with the appointed receivers and administrators, as well as other key stakeholders, to support an orderly sale and/or recapitalisation process with respect to the Infinity Group, with the aim of maximizing the return to creditors.