Copyright dailystar
Bodycare has been rescued from administration by the former chief of cosmetics giant The Body Shop. An investment consortium headed by Charles Denton, previous CEO of Molton Brown and The Body Shop, is set to acquire Bodycare, with the initial phase of store reopenings scheduled for early next year. The agreement encompasses the beauty retailer's brand and intellectual property, though the financial terms remain undisclosed. Denton aims to relaunch between 30 to 50 stores during the opening phase of operations, mainly across the Northwest. It's anticipated that several hundred employees will be brought back by the retailer, reports the Mirror . The consortium plans to work alongside landlords, suppliers and previous staff to facilitate a responsible and economical restart of the company, seeking to re-establish Bodycare as a supplier of budget-friendly personal care and beauty items. Denton commented: "Bodycare is much-loved and trusted – it matters deeply to the communities it serves. We now have the mandate to bring stores and jobs back by transforming Bodycare's rich legacy into a modern, scalable and profitable business." Nick Holloway, Interpath managing director and joint administrator, remarked : "We are pleased to hand Bodycare to an experienced new owner with a clear plan to restart operations. We wish the business every success in the future." This breakthrough comes after Bodycare collapsed into administration on 5 September, with the brand appointing Interpath Advisory to handle its insolvency proceedings. Later in the month, it emerged that the company was teetering on the edge of shuttering all its remaining stores, putting hundreds of jobs at risk, as administrators cast doubt over a potential rescue deal. Bodycare enlisted Interpath's services on 5 September, citing mounting costs and a funding deficit that strained supplier relationships and resulted in stock shortages. This marks yet another setback for UK high streets, following a string of retail chains either going under or scrambling to secure a buyer to stay in business. Interpath is aiming to broker a deal for accessories retailer Claire's after being appointed administrators for its UK and Ireland operations last month. Discount retailer Poundland shut down a host of stores following its acquisition by investment firm Gordon Brothers.
