Retailer makes final decision on its remaining stores
We hope you’re enjoying the early Autumn colours if not the chill that’s crept into the air causing the eternal dilemma – is it too early to put the heating on?
As we move into the last quarter of the year, we hope you’ll be able to spare a few moments to catch up on all the interesting and important business & insolvency news stories you might have missed from the past seven days.
So if you want to know what directors need to know about the new Covid Repayment Amnesty; why business insolvencies continued to remain steady last month; how an MVL unlocks tax efficiency for directors; and six essential considerations about Directors’ Loan Accounts in insolvency – you can read all these stories and more at our advice centre page.
Bodycare Update
Following their decision to appoint administrators, they have acted swiftly to announce that it was no longer viable to trade the remaining Bodycare stores and will close on September 27th with the loss of over 400 positions.
The administrators continued to liaise with a number of parties who expressed interest in the business and the Bodycare brand but conceded that a sale of the stores was now unlikely.
Given the shortage of stock and significant costs associated with operating stores, it was decided that it was no longer viable to continue to trade the business and as such would commence a closure programme for the remaining 56 stores.
At the time of their appointment, administrators announced that 32 stores would be closing with 450 redundancies. A week later they announced that a further 30 shops would be closing with another 235 job losses before this latest announcement.
A statement was issued by the administrators saying: “We understand that this has been a difficult period and so we want to further express our sincere thanks to Bodycare’s staff who, since day one of the administration, have maintained the strong standards of presentation and customer service that Bodycare was renowned for.
“We will continue to explore options for the company’s assets, including the Bodycare brand, and will provide further updates in due course.”
Christies (Fochabers)
A seventh-generation forestry business from Moray that dates back to 1820 has entered administration.
Christies (Fochabers) sold its well-loved garden centre in the town three months ago and had been facing both increased cash flow pressures and a major hit to government funding for tree planting.
Christie’s has been a cornerstone of Scotland’s forestry sector for more than 200 years, managing more than 130 million young trees across five sites at peak times. The business employs 32 staff which have been retained while administrators hope to sell the company as a going concern.
A statement from the administrators sets out the full situation: “Long-standing family business Christies has invested significantly in the nursery’s infrastructure in recent years, including the development of state-of-the-art grading facilities, cold-store refrigeration and modern agricultural equipment.
“The Arradoul site includes a range of agricultural buildings, plant and machinery, tree stocks and associated land. The company had experienced increased cash-flow pressures over recent years, which ultimately led to the decision to enter administration. It had previously operated a garden centre in Fochabers, which was sold to an independent trade party in June.
Mr Smith said: “Christie is a well-established and respected name in the sector with high-quality infrastructure and a skilled workforce. We are trading the business while we explore all options to secure its future and would welcome early engagement from any interested parties.”
Urban Legend Donuts
An air-fried doughnut business has gone into administration with 40 positions at risk .
Urban Legend was founded in 2021 and had grown quickly to become a popular name, attracting additional funding in 2022.
A statement from administrators said: “The business failure was probably down to the usual problem of costs exceeding income and inadequate provision of working capital. In the case of Urban Legend, while they had achieved sales into some of the multiple retailers, the distribution was not that wide across the retail estate.
“Lack of sales was an issue here. Urban Legend was offering a differentiated product through its low calorie products, it seems that its processes and technology may well prove attractive to other players in the space and we might expect the brand and technology to be resurrected in one form or another, as another industry player steps in or one of the current investors steps up.”
Blue Lion Hotel
A buyer is being sought for a historic hotel and restaurant in the Yorkshire Dales following the appointment of an administrator.
The Blue Lion Hotel in East Witton continues to trade and no redundancies are expected during this period.
The building is grade-II listed and was originally built as a shooting lodge before becoming a coaching inn in around 1840. The name comes from the emblem of the coat of arms of the Earls of Ailesbury.
There are still three months left in 2025 – which is still plenty of time for a business owner or director to find out what changes they can make to help strengthen or rebuild their business.
Get in touch with us today to chat with one of our advisors about what options you’ve got on the table – usually more than you realise!
The sooner you make contact, the sooner you can begin.