Barry M In Administration Move As January Insolvencies Continue

Barry M, one of the UK’s best-known cosmetics brands, has filed an intention to appoint administrators and is urgently seeking a buyer, highlighting the continued pressure on retailers as the new year gets underway.

January has already seen a notable rise in insolvencies, as many retailers reach the point where Christmas takings have been banked but ongoing costs and liabilities remain, leaving little room to manoeuvre once seasonal trading ends.

The business, which is known for its colourful nail varnishes and affordable vegan cosmetics, has appointed restructuring specialists Begbies Traynor to explore rescue and sale options.

Barry M supplies a number of major high-street retailers, including Boots and Superdrug, alongside operating its own direct-to-consumer online store.

Despite outward signs of stability, recent accounts show turnover rising to £17.4 million for the year to February 2024, with improved profitability. However, increasing operating costs and ongoing supply-chain disruption have eroded margins, leaving the business vulnerable despite growing revenues.

Barry M was founded in the 1970s by Barry Mero, initially trading from Ridley Road Market in east London. Over the following decades, the brand became a household name, associated with bold colours, accessible pricing and ethical credentials.

Following Mero’s death in 2014, his son Dean took over the business, maintaining its vegan and cruelty-free positioning and expanding its digital and social media presence. In 2024, the company undertook its first major rebrand in decades in an effort to appeal to younger consumers.

The business manufactures its products at a 45,000-square-foot facility in Mill Hill, north London, employing more than 100 people. While UK-based production has long been central to the brand’s identity, rising energy prices, labour costs and regulatory compliance have significantly increased overheads compared to overseas competitors.

Barry M’s administration reflects wider difficulties across the UK retail and beauty sectors. Over the past year, a number of well-known brands have entered insolvency processes or reduced their footprints as consumer spending weakens and cost pressures remain elevated.

Quiz clothing has also made a similar move