Beauty brand Malin + Goetz has relaunched its online webstore after shutting down all seven of its physical locations across the United Kingdom. The company had temporarily suspended its digital operations after entering administration earlier this year, but has now notified customers via email that its website is operational once more.
Online Revival After Financial Struggles
In a message to its clientele, the brand expressed, "We missed you. We’re now accepting orders. Be the first to shop before we officially go live. Thank you for your patience while we’ve been on pause." This move marks a significant step in the company's efforts to recover from its financial downturn, which led to the closure of stores in key London areas such as Seven Dials, Soho, Spitalfields, Islington, Canary Wharf, Battersea Power Station, and Borough Yards.
Impact on Employment and Business Operations
The administration process put approximately 70 jobs at risk, as confirmed by a spokesperson for Malin + Goetz. They stated, "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."
Despite the store closures, consumers can still purchase Malin + Goetz products through established third-party retailers including Liberty, John Lewis, and Space NK. Founded in New York in 2004 by Matthew Malin and Andrew Goetz, the brand initially offered just six products designed for all skin types before expanding into fragrances, bodycare, and other beauty categories.
Broader Retail Challenges in the UK
In related retail news, GAME is preparing to close its final three high street branches next month after also collapsing into administration. The affected stores are located in Dudley, Sutton, and Lancaster, with shutdowns scheduled for April. However, GAME concessions will continue to operate in hundreds of Frasers Group-owned outlets, such as Sports Direct and Frasers department stores, alongside its online platform.
Historical Financial Troubles for GAME
This marks the second administration for the computer games retailer, which was founded in 1990. GAME first entered administration in 2012, leading to the closure of 277 stores and over 2,000 job losses. Further store reductions occurred in 2020 with 40 closures, and additional branches were reported to be shutting in August last year. The company was acquired in 2019 by Mike Ashley's then Sports Direct, later rebranded as Frasers Group, in a £52 million deal.
Latest financial accounts for GAME Retail Limited for the year ending April 2024 revealed a decline from an £8.5 million profit to a nearly £2.5 million loss, highlighting ongoing challenges in the retail sector. This context underscores the turbulent environment facing brands like Malin + Goetz as they navigate recovery and adaptation in a competitive market.
