British magnificence retailer brings in directors days after web site mysteriously shut down
Beauty Bay, which stocks popular brands including Clinique and Mac, has lodged a notice to appoint insolvency practitioners and is seeking new investors as its website goes offline
The website was shut down this week
An online beauty retailer has called in the administrators just days after its website shut down.. Beauty Bay, a stockist of popular brands such as Clinique and Mac, filed the notice to appoint insolvency practitioners yesterday, leaving bosses with 10 days to figure out a plan moving forward.
The firm, owned by brothers Arron and David Gabbie, is now on the hunt for new investors, according to reports. This move aims to provide the company with a ten-day buffer from creditors whilst they seek new ownership for the business, which was originally launched as Fragrance Bay in 1999, Sky News reports.
A spokesperson said: “Like many other companies operating across the retail space, we’ve been battling hard in the face of strong headwinds over the past 12 months. Cost inflation and fragile consumer confidence have had a heavy impact on consumer spending.
“Over recent weeks, we’ve been working closely with our stakeholders to find a path forward, including exploring options for sale and investment, with the aim of putting in place a stable financial platform upon which we can continue to build.
“Whilst we continue to explore the options available to us, we have today taken steps to protect the position of the business as we strive to find a way forward.”
The website was taken offline days prior and replaced with a message for customers. The chain stated: “We’ll Be Back Soon. BEAUTY BAY is offline right now, we’ll be back shortly..”
Around 65 employees are on the payroll of the beauty retailer, which is believed to have catered to five million customers, according to the Express.
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