Future of Beauty Bay secured through pre-pack sale
The future of Beauty Bay has been secured via a pre-pack sale to an international investment group.
The Manchester based online retailer filed a notice of intention to appoint administrators last month after it came under sustained pressure amid challenges in the UK retail sector.
Subscribe to TRBAfter being appointed, Rick Harrison and James Clark from Interpath concluded a sale of Beauty Bay to the French-owned AA Investments Group on 6 March.
AA Investments specialises in operating companies in the luxury, ecommerce and beauty sectors.
The transaction has included 62 employees transferring to the purchaser.
Aaron Gabbie, who co-founded Beauty Bay with his brother David, will remain with the business for a short period to facilitate a transition to the new owners.
Harrison said: “Since its inception in 1999, Beauty Bay has grown to become one of the UK’s leading online beauty retailers, selling well known cosmetics and cult brands to over five million customers.
“We’re pleased to have concluded this transaction which will see the brand continue under new ownership, and wish everyone connected with the business all the best for the future.”
Arron and David Gabbie said: “We would like to say a huge thank you to our brilliant team who have helped to make Beauty Bay everything that it is today.
“Their commitment and support over the last 27 years have been unwavering, no more so than over these past few weeks.”
