Beauty retailer Bodycare to close 32 stores
High street health and beauty retailer Bodycare is to close 32 stores as it struggles with rising costs.
The retailer – which operates 147 stores across the UK – was facing a fall into administration but no rescue deal could be reached, Sky News reports.
Bodycare previously said it had come under pressure due to an increase in costs, a delayed transition from its online retail platform, and the effects of cost-of-living pressures on its customers.
The retailer also said it suffered a shortfall in funding after aborting a planned stock market listing last year.
The company had brought in administrators from advisory firm Interpath – which is now looking at a potential sale of the business and its assets – on Friday, according to Sky News.
The stores which Bodycare is closing are located in:
- Beverley
- Cameron Toll
- Cannock
- Clydebank
- Cramlington
- Croydon
- Darwen
- Dumfries
- Edinburgh
- Erdington
- Falkirk
- Hemel Hempstead
- Kirkcaldy
- Loughborough
- Lytham St Annes
- Macclesfield
- Maidstone
- Morecambe
- Newport
- Northfield
- Paisley
- Parkhead
- Perth
- Port Talbot
- Rhyl
- Royton
- Scunthorpe
- Stourbridge
- Tamworth
- West Bromwich
- Wood Green
- Wrexham
Nick Holloway, joint administrator and managing director at Interpath, said: “These remain challenging times for high street retailers as rising costs and reduced consumer spending continue to weigh heavily on trading.
“Unfortunately for Bodycare, which was also contending with a significant funding gap and increasing creditor pressure, these challenges proved too difficult to overcome.”