Malin + Goetz Shuts All UK Stores, 70 Jobs Axed Amidst Administration

A popular beauty brand has plunged into administration and closed all of its UK stores. The move has led to 70 people losing their jobs and a pause in all online sales. Malin + Goetz has announced the closure of all seven of its UK stores, which are all based in London. Its shops are located in Islington, Canary Wharf, Soho, Battersea, Seven Dials, Spitalfields and Borough Yards. The brand specialises in skincare and haircare products, but also sells candles and fragrances. Alongside its dedicated stores, its products are sold in other beauty retailers such as John Lewis and Space NK. Customers will still be able to buy Malin + Goetz products through third-party retailers. Following the announcement of administration, the company stopped taking online orders. A message on the website reads: 'A brief pause. We're temporarily unable to accept online orders. Please explore the collection—we'll be back soon.' A spokesperson for Malin+Goetz 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. '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.' The company was founded by Matthew Malin and Andrew Goetz in 2004 in New York. They started the brand from a small apartment, creating six products with the aim of working for all skin types. Over more than two decades, the brand expanded outside of New York with locations in Hong Kong and California. It is the latest well-known brand to shut up shop in the UK in recent weeks. TGI Fridays announced it would close 16 restaurants last week after the chain fell into administration. The UK arm of the business, which was owned by Liberty Bar and Restaurant Group Limited, has now been acquired by Sugarloaf - the company behind the chain's global brand. The deal was completed immediately after administrators from Interpath were appointed, saving 1,384 jobs. However, the deal did not cover the remaining 16 restaurants and has led to 456 redundancies for staff at those venues. Shoemaker Russell & Bromley also faces extinction from the high street amid a takeover by Next. The retailer joined forces with stock clearance specialist Retail Realisation in its pursuit of the 150-year-old luxury shoe and bag retailer, which has 37 stores across the UK. It is thought that Next will acquire only the brand and intellectual property, while Retail Realisation will oversee the closure of the chain's remaining stores and a fire sale of stock. The liquidation specialist is linked to investment firm Modella Capital, which purchased WHSmith, Claire's and Hobbycraft in the past year.