Bodycare Stores, the health and beauty retailer that has traded for more than 50 years, has called in CAPA to help it make savings across 164 sites it trades from.
The retail chain was launched in 1970 by Graham and Margaret Blackledge on a market stall in Skelmersdale, Lancashire, and has been an established presence across many high streets in the five decades since its incorporation.
As the main business of its parent company, G.R. and M.M. Blackledge Plc, Bodycare had been affected by the pandemic in the past two years but it is now growing its online offering.
The parent business has also been considering its strategic options since 2021 with a view to growing the business and improving its financial results.
In June 2022, this took effect when the board of directors made an offer to buy the entire shareholding of the group, which was accepted by shareholders.
With this new finance in place and new management structures, the directors are now implementing a plan to stabilise and grow the business.
Against this backdrop, the directors have instructed CAPA to conduct a full property and accounts payable audit on 164 sites Bodycare trades from, including 134 retail branches.
This will involve CAPA’s Audit team using bespoke software to carry out a forensic audit of all costs related to property among the 164 locations. The team will interrogate data on utility bills, broadband, business rates, property service management fees and any other costs.
The team will also inspect information on invoices owed to external companies.
Across all costs, CAPA will look to detect any overspend and recover overpayments for the Bodycare chain, potentially saving vast sums for the retailer on a no-win, no-fee basis.