High street retailer Bodycare has announced a further 30 store closures after the health and beauty brand fell into administration. The retailer fell into administration in early September, immediately announcing the closure of 32 of its 147 stores leading to the loss of 450 jobs.
The company has since revealed it will be closing an additional 30 stores, putting around 250 further jobs at risk. Administrators remain hopeful of a sale, with a spokesperson confirming that there had been “interest from a number of parties” in relation to some of the remaining 85 stores, which it hoped to secure the future of. They added: “Unfortunately, however, given the shortage of stock and costs associated with operating stores, it is no longer viable to continue to trade all 115 stores retained on appointment.”
The company will close 14 stores tomorrow and a further 16 on Thursday.
Bodycare was founded in the 1970s in Lancashire and rose to employ 1,500 people before entering administration but has been hit recently by difficult market conditions.
Bodycare appointed administrators from Interpath on September 5, saying it had come under pressure from rising costs and a shortfall in funding, which also impacted supplier relationships and led to stock shortages.
Nick Holloway, managing director at Interpath and joint administrator, said: “We’d like to express our sincere thanks to the hundreds of dedicated Bodycare staff who have shown such professionalism since our appointment.
“We will continue to trade the remaining 85 stores while we remain in discussions with interested parties with the aim of preserving as much of the business as possible.”
In an update the administrator said: “Following their appointment, the Administrators have been running a sales process to establish interest in the business.
“To date, they have received interest from a number of parties in relation to the stores and as such, they continue to pursue this with the hope of securing a transaction.
“Unfortunately, however, given the shortage of stock and costs associated with operating stores, it is no longer viable to continue to trade all 115 stores retained on appointment.
“The joint administrators have therefore made the difficult decision to commence a closure programme.”
They added: “Regrettably, all members of staff at these stores will be made redundant upon closure. The administrators will continue to provide all support to those impacted, including supporting them with claims to the Redundancy Payments Service.”