A well being and wonder retailer based on a Lancashire market stall greater than half a century in the past is dealing with collapse amid a race to discover a rescue deal.
Metropolis sources stated that Interpath, the advisory agency which has been working with Bodycare and its house owners for a number of months, was persevering with to discover choices for the enterprise.
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The corporate is owned by Baaj Capital, a household workplace run by Jas Singh.
Its different investments have included In The Fashion, which underwent a pre-pack administration earlier this 12 months, and get together merchandise provider Amscan Worldwide.
Baaj additionally tried to take over The Unique Manufacturing unit Store earlier this 12 months earlier than its provide was trumped by Modella Capital, one other specialist retail investor.
The ability was secured towards Bodycare’s retail stock, in response to an announcement final month.
Bodycare was established by Graham and Margaret Blackledge in Skelmersdale in 1970, and sells branded merchandise made by the likes of L’Oreal, Nivea and Elizabeth Arden.
The chain was worthwhile earlier than the pandemic, however like many retailers misplaced hundreds of thousands of kilos within the monetary years instantly after it hit.
Bodycare obtained monetary help from the taxpayer within the type of a multimillion pound mortgage issued beneath one of many Treasury’s pandemic funding schemes.
The chain is run by retail veteran Tony Brown, who held senior roles at BHS and Beales, the now-defunct division retailer teams.
If Bodycare does fall into insolvency proceedings, it might be the most recent excessive road chain to face collapse this 12 months, amid intensifying complaints from the business about tax will increase introduced in final autumn’s finances.
In current weeks, River Island narrowly averted administration after successful creditor approval for a restructuring involving retailer closures and job losses.
Later this week, the struggling low cost large Poundland will search related approval from the courts for a radical overhaul that can entail dozens of store closures.
Bodycare couldn’t be reached for touch upon Tuesday, whereas Baaj has been contacted for remark and Interpath declined to remark.
