International beauty brand closes all 7 UK stores as it enters administration
A popular beauty brand has gone into administration and closed all seven of its stores. The company said it has exhausted “all viable alternatives”.
A beauty brand popular amongst UK shoppers has shut all of its British stores and paused its online sales in the UK. The company said it had exhausted all viable options, but in the end, it had no choice but to go into administration. The move will reportedly lead to redundancies. Malin + Goetz has seven UK stores, all in London. They are found in Islington, Canary Wharf, Soho, Battersea, Seven Dials, Spitalfields and Borough Yards.
Its products are also sold through third-party retailers such as Liberty, John Lewis and Space NK. The brand specialises in skincare products, haircare, candles and fragrances. It was founded in the Chelsea neighbourhood of New York City in 2004 by founders Matthew Malin and Andrew Goetz. A short maintenance period will mean online UK sales will pause while the company shifts e-commerce operations to its US team.
A spokesperson told TheIndustry.beauty: “Following an extensive review of the business and after exhausting all viable alternatives, we have taken the difficult but necessary decision to put our UK business into administration, resulting in the closure of all UK stores that we operate and our head office.
“We recognise the impact this will have on our colleagues and customers, and the loss of jobs is deeply regrettable, but unavoidable under the circumstances.”
They added: “This structural change will allow the business to focus on our e-commerce and third-party retail channels where our customers increasingly choose to shop, while enabling us to operate more efficiently, and better serve customers in the long term.”
A new partnership with distributor Discovered Brands means that customers can continue to get Malin Goetz products through third-party retailers in the UK.
Among the brand’s best-sellers are its travel skincare kit, its advanced renewal moisturiser, its Vitamin E face moisturiser and its all-purpose moisture balm.
