Auto Amazon Links: No products found. Blocked by captcha.
All 56 remaining Bodycare stores will be closing down, resulting in 444 job losses, as the health and beauty chain’s administrators were unable to secure a buyer for the shops. The decision to cease trading was made due to the lack of stock and high operational costs associated with running the stores, making it financially unsustainable for the business to continue.
The administrators acknowledged that despite ongoing discussions with various interested parties, including those looking to acquire the Bodycare brand, the likelihood of a sale for the stores was now slim. The closing of the stores is expected to be completed by Saturday, with plans to offer support to affected employees during this transition period. This move comes after more than 1,000 jobs were lost following the collapse of the retailer earlier in September.
Founded in Lancashire in 1970, Bodycare was known for its distinctive store layouts featuring vibrant lighting and creative window displays showcasing a variety of products like lip balm, perfume, false nails, and foot cream. Catherine Shuttleworth, chief executive of marketing agency Savvy, highlighted the intense competition in the health and beauty sector from major retailers like Boots and Superdrug, as well as online sellers on social media platforms, which contributed to Bodycare’s struggle to stay afloat.
Retail analyst Jonathan De Mello noted that Bodycare’s business model, reliant on high customer volumes, faced challenges due to declining foot traffic in certain locations and the increasing competition in the health and beauty market. He emphasized the brand’s failure to effectively engage with its customer base as a contributing factor to its demise. Clive Black, head of consumer research at Shore Capital, attributed Bodycare’s downfall to a management team that was ill-equipped to adapt to a changing market landscape and rising costs, affecting various stakeholders involved in the business’s operations
Read the full article from The BBC here: Read More
Auto Amazon Links: No products found. Blocked by captcha.