Skincare clinics chain is bought out of administration, 85 jobs saved

A chain of skincare clinics under the ProSkin brand have been bought from administration, resulting in 85 jobs being safeguarded, a business news source can exclusively reveal.

The company behind the ProSkin brand, Cutis Developments Ltd, was founded in 2010 and aimed to roll out a series of skincare and laser clinics across the UK designed to make celebrity treatments accessible to the British public. At the end of 2015, there were 12 ProSkin clinics employing a workforce of 110.

However, trading started to deteriorate towards the end of the year which led to the business undertaking a cost cutting exercise, including making redundancies, to offset losses. A new chief executive was also brought in to implement a recovery plan.

However, the company entered administration in March 2016 following an unsuccessful equity raising.

A deal to purchase the business and assets was completed for £105,000, with the buyer, Biosupplements Ltd, taking on 85 employees. Six staff were made redundant immediately following the administration.

Upon taking control of the business, Biosupplements agreed to honour existing pre-appointment treatments for customers who had already paid, representing a liability of between £528,000 and £2m.

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