Bodycare has made the decision to close an additional 30 stores, effective immediately, following the company’s entry into administration. The beauty chain had previously announced the closure of 32 stores and the loss of approximately 450 jobs after appointing administrators from Interpath earlier this month.
In the most recent update, Bodycare revealed that 14 stores will permanently shut down today, while the remaining 16 will cease operations on Thursday. This move will result in around 235 employees across these stores being laid off. Subsequently, the company will be left with 85 operational shops, down from its previous count.
Established in 1970 by Graham and Margaret Blackledge at a Lancashire market stall, Bodycare is now under the ownership of Baaj Capital since 2021. The retailer features popular beauty brands such as L’Oreal, Nivea, and Elizabeth Arden in its product offerings.
Interpath’s managing director, Nick Holloway, expressed gratitude towards the dedicated Bodycare staff and stated the intention to continue trading the remaining stores while engaging with potential buyers to salvage as much of the business as possible. The administration firm is actively exploring a potential rescue sale for Bodycare, following reports of its financial struggles and securing a £7 million debt facility against its retail inventory before entering administration.
Amidst the challenging retail landscape, other high street retailers have also faced difficulties. Poundland recently underwent a sale to private equity firm Gordon Brothers for £1 and plans to close 68 stores. Additionally, River Island has implemented a restructuring plan to prevent collapse, resulting in the closure of 33 shops and reduced rents for 71 other stores, approved by the High Court earlier this month. Landlords have been approached to reduce rents and potentially halt payments to mitigate losses for the fashion chain.
As the retail sector navigates ongoing challenges, Bodycare’s latest store closures underscore the industry’s turbulent environment and the efforts being made to adapt and survive amidst economic uncertainties.
