HomeBusiness"Bodycare to Close 30 More Stores Amid Administration Crisis"

“Bodycare to Close 30 More Stores Amid Administration Crisis”

Published on

Bodycare has made the decision to close an additional 30 stores effective immediately following the collapse of the high street beauty chain into administration. Earlier this month, administrators from Interpath were appointed by the company, leading to the closure of 32 stores and the loss of approximately 450 jobs.

In an update this week, Bodycare announced the closure of 30 more stores, with 14 stores closing permanently today and the remaining 16 scheduled to shut on Thursday. This move will result in around 235 employees across these stores being made redundant.

After these closures, Bodycare will have approximately 85 remaining shops. Established in 1970 by Graham and Margaret Blackledge on a Lancashire market stall, the company has been under the ownership of Baaj Capital since 2021. It offers products from popular beauty brands such as L’Oreal, Nivea, and Elizabeth Arden.

Interpath, the appointed administrators, expressed gratitude to the dedicated staff and confirmed plans to continue trading the remaining 85 stores while engaging with potential buyers to salvage as much of the business as possible. Efforts are underway for a potential rescue sale of the business.

Bodycare’s financial troubles were first reported by Sky News, indicating the company had secured a £7 million debt facility against its retail inventory before its downfall. The closure of Bodycare’s stores adds to the struggles faced by high street retailers, with Poundland recently being sold to Gordon Brothers for £1 and announcing the closure of 68 stores.

Furthermore, River Island has implemented a restructuring plan to prevent a collapse, resulting in the closure of 33 shops and reduced rents for 71 other stores. Landlords have been asked to assist by reducing rents for three years or ceasing payments on some locations. The restructuring plan was approved by the High Court earlier this month.

Latest articles

“WhatsApp Unveils Exciting Upgrades for Users”

WhatsApp users are in for a treat with the latest update from the messaging...

“Jack Willis Named Top Player in French Top 14 League”

Jack Willis, the standout performer for French champions Toulouse, was honored as the top...

“High street banks to close 162 branches, online banking trend cited”

High street banks like NatWest, Lloyds, and others are planning to close 162 branches...

“Starmer Takes Stand Against Farage’s Racist Plan”

Keir Starmer is facing challenges from both Nigel Farage and Andy Burnham, positioning himself...

More like this

“WhatsApp Unveils Exciting Upgrades for Users”

WhatsApp users are in for a treat with the latest update from the messaging...

“Jack Willis Named Top Player in French Top 14 League”

Jack Willis, the standout performer for French champions Toulouse, was honored as the top...

“High street banks to close 162 branches, online banking trend cited”

High street banks like NatWest, Lloyds, and others are planning to close 162 branches...