Confusion for shoppers as Bodycare stores in Telford and Shrewsbury launch 'closing down' sales
Huge 'closing down' posters have gone up at Bodycare's Telford and Shrewsbury stores - despite the struggling retailer saying they were safe for now.
Last week, Bodycare announced plans to immediately close 32 of its 147 stores with the loss of 450 jobs, after the struggling beauty retailer slid into administration.
The chain's three stores in Shropshire were on a list of stores deemed safe for the time being at least, while the firm's administrators, Interpath, tried to sell off the rest of the business to new investors.
Bodycare has stores in Telford, Shrewsbury and Bridgnorth which are trading as usual while the firm continues in administration - but huge 'closing down' posters have now appeared in the windows of some of the company's shops.
However Interpath say no further closures are currently planned, have nothing to add to their previous statement, and there are no timeframes for any further store closures at present.
In a statement issued last week, the administrators said that "in common with a number of other bricks and mortar retailers", the company has faced a number of challenges in recent years which had negatively impacted its financial position.
They said the retailer had suffered through rising rent and staff costs, a "delayed transition" to its online retail platform, and the cost-of-living crisis impacting its customer base. The company's website went offline last week.
Interpath added that an aborted attempt to go public on the London Stock Exchange last year had led to a shortage of cash in the business which had "placed strain on supplier relationships", resulting in a shortage of stock.
In June, the company secured a 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."
Founded in 1970 on a market stall in Lancashire, Bodycare is a high street retailer of branded health and beauty products, as well as fragrances and bathroom consumables. The Company trades from 115 stores across the UK and employs around 1,500 people.
