The pharmacy, located in St John's Street, off Craddock Road, closes on Friday and the company will subsequently be placed into liquidation on September 1st.
All staff and local GP surgeries have been informed of the closure with notices now on display in the pharmacy notifying all visiting patients and customers.
The pharmacy is advising all its patients to seek alternative arrangements at other nearby pharmacies.
A spokesperson for Colne Health Centre Pharmacy, said: “We deeply regret having to close the pharmacy. We have done everything we possibly can, but it is simply no longer financially viable to stay open after several years of making a loss.
"We did try to negotiate a rent reduction with our landlords – the NHS – but sadly that was not forthcoming.
“We would like to thank all our staff for their hard work and dedication over the years, providing excellent essential healthcare services to patients and thank all our valued patients for their custom and loyalty. We are working in collaboration with the local GP surgeries to ensure our patients know which nearby pharmacies they can go to in future.”
Colne Health Centre Pharmacy has been serving patients across the Colne community for the last 38 years, moving from its previous premises on Market Street in 2014 to be part of the new, purpose-built health centre facility in Craddock Road