High street beauty chain will shut 32 shops and axe 450 jobs after falling into administration
A high street beauty chain, 32 shops will close and after falling into the management of about 450 work, he said.
Retailer Bodycare announced that he appointed managers from Interpath Consultancy in the afternoon.
It comes only weeks after the bosses in the company provide a short -term measure to avoid bankruptcy.
Bodycare sells a total of 1,500 people and has 147 stores in the UK.
The business is currently a company that is run by Jas Singh, Baaj Capital, a company that is operated by the family.
Approximately 450 people have already become unnecessary. Managers will now strive to find a buyer for the crisis -stroked retail chain.
A high street beauty chain said that he would close 32 shops and cut approximately 450 work after falling into management.
Bodycare was founded in 1970 by Graham and Margaret Blacktle in Lancashire, Skelmersdale.
It remained profitable to pandemia, but in recent years, increasing costs and high inflation levels have fought.
32 stores to close immediately entered into force and their employees became unnecessary.
Branches in Croydon, Maidstone, Wrexham, Cannock and Loughborough will close their doors well.
Interpath said in a statement that Bodycare has faced a number of difficulties that negatively affect the financial situation in recent years’.
This added: ‘This includes rent and human costs, a delayed transition to the online retail platform and a cost of life affecting the customer base.
In addition, a public offering planned in 2024 led to a deficiency in financing. This caused stock problems by forced the supplier relations.
‘The directors of the directors to deal with these difficulties and the assembly of the creditor printing to appoint managers to appoint a hard decision was made.’
Nick Holloway, the co -director of the Bodycare and General Manager of Interpath, said: ‘These continue to be challenging times for high street retailers as the reduction of increasing costs and consumer expenditures continues to focus to a great extent.
Unfortunately, for Bodycare, who struggled with an important financing gap and increasing creditor pressure, it was very difficult to overcome these difficulties.
‘Our intention is to exchange most of the company’s stores to perform stocks while discovering options for a possible sale of business and assets.
‘In addition, and as a priority issue, we will provide all support to employees affected by the surplus, including supporting the demand for surplus payments.’
