Fears for three Shropshire stores as health and beauty chain Bodycare 'facing collapse'
The future of high street beauty chain Bodycare has been cast into doubt following reports that the firm could be about to head into administration.
According to national media reports, the firm could be set to slide into administration this month, unless a buyer is found.
The company was founded in 1970 on a Lancashire market stall, but has expanded to around 150 stores in the UK, including in Telford, Shrewsbury and Bridgnorth.
Bodycare employs around 1,500 people across the country.
In June, the company secured a "highly bespoke" debt facility of around £7 million from corporate finance firm Aurelius in order to stablise the business, which Aurelius said was "fully secured against Bodycare’s extensive retail inventory, to help the business return to growth."
The company has reportedly been working with insolvency specialists Interpath for several months.
Baaj Capital, Bodycare's parent company, bought the firm in 2022 from founders Graham and Margaret Blackledge.
Baaj Capital has a history of investing in distressed retail companies and earlier this year attempted to acquire The Original Factory Shop(TOFS), before it was outbid by Modella Capital, who have subsequently undertaken a restructuring programme at TOFS which has seen several stores close across the county.
Bodycare is the latest in a number of large high street retailers to have hit problems in recent months, after Hobbycraft, also owned by Modella, began a restructuring programme which saw around ten stores close down this year.
Fashion retailer River Island is planning to close 33 stores across the UK and Ireland, and reduce rents at another 71 locations, as part of a restructuring plan approved by the High Court in an effort to stave off administration.
Interpath declined to comment when contacted by the Shropshire Star.
Bodycare did not immediately respond to a request for comment.
