Shopping cart
Your cart empty!
Fragrances retailer Bodycare lines up debt funding package
A health and beauty retailer founded on a Lancashire market stall more than half a century ago is lining up a debt funding package three years after it was sold.
Sky News understands that Bodycare, which trades from about 130 stores across the UK, is close to unveiling new financing provided by Aurelius, the private equity investor. City sources said the deal could be announced as soon as this week.
Money latest: Why Amazon is 'disappointed' Bodycare, which has been advised on the new funding by Interpath Advisory, is backed by Baaj Capital, which recently rescued In The Style - one of its existing companies - through a pre-pack administration. The size of the new financing package was unclear on Monday.
Bodycare was established by Graham and Margaret Blackledge in Skelmersdale in 1970, and sells branded products made by the likes of L'Oreal, Nivea and Elizabeth Arden. The chain was profitable before the pandemic, but like many retailers lost millions of pounds in the financial years immediately after it hit.
Bodycare received financial support from the taxpayer in the form of a multimillion pound loan issued under one of the 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 department store groups.
Neither Bodycare nor Aurelius could be reached for comment, while Interpath declined to comment..
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
Related to this topic:
AI and Marketing: Unlocking Customer Insights
Feb 22, 2024
