Key Takeaways:Beauty Bay's future has been secured with a sale to AA Investment Group.The cosmetics company had filed two notices of intention (NOI) to appoint an administrator.The company’s fixed assets were valued at £1.8 million ($2.4 million) and current assets at approximately £15.9 million ($21.1 million).Manchester-based online cosmetics retailer Beauty Bay has been acquired out of administration in a pre-pack deal with AA Investment Group.WHO: Manchester-based Beauty Bay was founded in 1999 by brothers Arron and David Gabbie. Originally named Fragrance Bay, the online retailer sells more than 200 brands on its platform, including Clinique, MAC, and Ariana Grande's R.E.M. Beauty, as well as its own range of products.AA Investment Group is a Hong Kong–based asset management firm, often linked to French-Iranian businessman Samir Goshayeshi, and specializing in acquiring companies within the luxury, beauty, and e-commerce sectors.WHY: With parts of the UK retail sector continuing to face challenges, including cost inflation, policy uncertainty, and subdued consumer confidence, the Beauty Bay business had recently come under sustained pressure. In response, the business's directors undertook a review of their investment options. However, when a solvent solution could not be found, they made the difficult decision to place the company into administration.IN THEIR OWN WORDS:Commenting on the transaction, founders Arron and David Gabbie said: "We would like to say a huge thank you to our brilliant team who have helped to make Beauty Bay everything that it is today.