Cosmetics brand Barry M has filed notice of its intention to appoint administrators, initiating an urgent search for a buyer. This move risks the end of four decades of family ownership for the London-based company.
Barry M, known for its affordable, vegan, and cruelty-free nail polishes, has engaged restructuring advisors Begbies Traynor. The company supplied major UK retailers like Boots and Superdrug. In February 2024, Barry M reported revenue growth to £17.4 million and increased pre-tax profits. However, it cited significant cost increases due to "geopolitical issues."
Despite a rebrand last year targeting younger consumers and a strong social media presence, Barry M has faced mounting challenges. Rising supply chain costs, high UK manufacturing expenses, and a difficult retail environment have taken their toll. The brand operates a 45,000-square-foot factory in Mill Hill, employing over 100 people. Its UK production has become less competitive compared to overseas manufacturers.
Barry M's situation highlights broader pressures affecting UK beauty and manufacturing firms. Soaring energy costs, tax burdens, supply chain disruptions, and increased corporate financial distress have already led to several beauty brands entering administration or liquidation. The brand’s struggle offers a stark look at the economic realities facing domestic producers in the current climate.
