The UK retail sector faces a worsening crisis as Bodycare, a beauty retailer, shuts 32 stores, including outlets in Loughborough and Croydon, resulting in 450 job losses.
Spared in Derby, the chain, owned by Baaj Capital since 2021, entered administration under Interpath Advisory after failing to overcome financial strain despite a £7 million debt facility.
The closures, part of a broader high street struggle, follow similar fates for retailers like Wilko, driven by rising costs and changing consumer habits.
Bodycare’s website is offline, and customers on X expressed frustration over losing access to affordable products.
The retail downturn coincides with economic challenges, including a 27-year high in borrowing costs at 5.72% and warnings of a fiscal “doom loop.” As Keir Starmer’s government prepares for a critical November budget, the retail sector’s plight underscores the urgent need for economic reforms to support businesses and maintain high street vitality.
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