Lancashire-founded Bodycare shutting three stores in county after falling into administration
High street health and beauty retailer Bodycare has collapsed into administration, with three Lancashire stores among 32 nationwide shutting their doors for good.
The chain – which began life in Lancashire in 1970 – confirmed that branches in Darwen, Lytham and Morecambe are among those closing with immediate effect.
Around 450 staff across the UK are being made redundant.
Bodycare, which sells beauty, fragrance and bathroom products, has been struggling with rising costs, pressure on household budgets and a shortfall in funding following an aborted stock market listing last year.
The company said these challenges had also affected supplier relationships and left some stores facing stock shortages.
Administrators from Interpath Advisory were appointed on Friday and are now overseeing the business.
While 32 stores have been closed, Bodycare confirmed that 115 of its 147 shops remain open and trading as usual while a buyer is sought.
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.
“Our intention is to continue trading the majority of the company’s stores in order to realise stock while we explore options for a possible sale of the business and its assets.”
Bodycare said it will work with the Redundancy Payments Service to support employees affected by the closures.