Green Company: Elephant Pharmacy goes Out of Business!

According to the San Jose Journal, The Berkeley-based retailer has filed for chapter 7 bankruptcy and has already closed its three stores in Berkeley, San Rafael and Walnut Creek. No details were available on when or how the six-year-old company planned to liquidate its inventories, but at the Walnut Creek store, many products have been out of stock for some time.

Kathi Lentzsch, Elephant’s CEO, said in a statement that the company had failed in an effort to raise capital and was left with no other option than to file for bankruptcy. In September 2008, the company closed its Los Altos location and reduced its corporate staff in a cost-cutting measure that could not save the company.

The company employed 190 in its three stores and main office. The three closed stores were at 1607 Shattuck Ave. in Berkeley, 909 Grand Ave. in San Rafael and 1388 South California Blvd. in Walnut Creek and averaged 12,000 square feet.