Beauty Bay has filed a notice to appoint administrators to “protect the position” of the company.
The cosmetics retailer has taken down its website, which currently displays the message: “We’ll be back soon. Beauty Bay is offline right now, we’ll be back shortly”.
It comes after the business has been seeking a sale or investment during recent weeks with restructuring firm Interpath.
Beauty Bay owners Arron and David Gabbie launched a sale process in 2022 which did not lead to a transaction.
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Having filed the notice of intention, the company has 10 days in which creditors cannot pursue any action against it.
A Beauty Bay 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.
“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.”
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