Bodycare, a health and beauty retail chain, has announced the immediate closure of 32 of its UK stores and the redundancy of 450 employees following its entry into administration. The company, which has approximately 1,500 staff, is known for offering low-cost cosmetics and beauty products.
With 147 physical locations, Bodycare cited rising rents as a significant factor in its decision to cease operations in certain areas. Administrators have indicated that retailers, including Bodycare, are encountering difficult market conditions, compounded by increasing costs and heightened competition for consumer spending.
Established in Lancashire in 1970, Bodycare intends to keep most of its remaining stores operational while exploring potential options, such as finding a buyer. The stores slated for closure include locations in Croydon, Edinburgh, Hemel Hempstead, Scunthorpe, and Wrexham.
This announcement follows a broader trend in the retail sector, where companies like Claire’s and River Island have faced similar challenges. Claire’s recently managed to secure a buyer after filing for bankruptcy due to supply chain issues, while River Island announced the closure of 33 stores as part of a restructuring plan.
Nick Holloway, managing director at Interpath and joint administrator, acknowledged the ongoing difficulties for high street retailers, noting that rising costs and reduced consumer spending are impacting profitability. Critics have pointed to the increasing challenges within the “value sector” of retail, where competition is fierce and online shopping trends are affecting brick-and-mortar sales.
Bodycare’s store formats are known for their straightforward layouts, but analysts suggest that the chain has struggled to adapt to an evolving market that increasingly favors online shopping and social media platforms. The closures will affect various towns, with the specific list of locations provided by the company.
Source: https://www.bbc.com/news/articles/cpd9qezjej1o?at_medium=RSS&at_campaign=rss