Beauty Bay has filed a notice of intent to appoint administrators.
The online beauty retailer’s website has also gone offline, with a notice informing consumers that “we’ll be back soon”.
The websitehe website currently reads: “Beauty Bay is offline right now, we'll be back shortly.”
It follows Beauty Bay appointing advisers from the consultancy firm Interpath.
The notice of intent gives a period of ten days during which the administrators can be appointed, and administrators are not in office.
The business has been struggling amid the current economic challenges and is now exploring options for sale and investment, according to a Beauty Bay spokesperson.
“Like many other companies operating across the retail space, we have been battling hard in the face of strong headwinds over the past 12months,” said the Beauty Bay spokesperson.
“Cost inflation and fragile consumer confidence have had a heavy impact on customer spend.
“Over recent weeks, we have 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.
“While 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.”
Founded as Fragrance Bay in 1999 by brothers Arron and David Gabbie, Beauty Bay is an online retailer that sells products from more than 200 brands, including Anastasia Beverly Hills, Beauty of Joseon and The Inkey List.
It also has its own-label range, By Beauty Bay, which spans hair care, body care, colour cosmetics, skin care, tools and accessories.
The business was rumoured to launch as a public company several years ago, only to abandon IPO plans in May 2022 due to inflation.
Sales went on to fall by £40m that same year.
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