The Body Shop has announced it will shut half its stores, with some closing from today (February 20).
It comes as the retailer recently announced it entered administration, putting more than 2,000 jobs at risk across 200 shops.
The Body Shop appointed insolvency experts from FRP Advisory to oversee the process.
FRP previously said the administrators will “consider all options to find a way forward for the business” after years of financial struggles and amid a challenging backdrop for shoppers.
Hello, you may have heard in the news that The Body Shop in the UK is under administration. We wanted you to know we’re open as usual and all our customers can continue to shop for their favourite products. And...thank you for the huge love we’ve been hearing, it means a lot 💚 pic.twitter.com/jnSVtmRMEA
— The Body Shop UK (@TheBodyShopUK) February 14, 2024
It explained: “The Body Shop remains guided by its ambition to be a modern, dynamic beauty brand, relevant to customers and able to compete for the long term.
“Creating a more nimble and financially stable UK business is an important step in achieving this.
“The Body Shop has faced an extended period of financial challenges under past owners, coinciding with a difficult trading environment for the wider retail sector.”
However, administrators said the brand's current portfolio is no longer viable after "years of unprofitability," reports Sky News.
The Body Shop to close 7 stores from today - see full list
- Surrey Quays (London)
- Oxford Street Bond Street (London)
- Canary Wharf (London)
- Cheapside (London)
- Nuneaton (Warwickshire)
- Ashford Town Centre (Kent)
- Bristol Queens Road (Bristol)
The retailer was founded in 1976 by Anita Roddick and her husband Gordon as one of the first companies to promote so-called ethical consumerism, focusing on ethically produced cosmetics and skincare products.
Recommended reading:
- This is who founded The Body Shop more than 40 years ago but who owns it now?
- Everything to know on what it means for a company to go into administration
The announcement comes only weeks after new owners, European private equity firm Aurelius, took control of the business.
Aurelius, which specialises in buying and turning around troubled firms, secured a £207 million deal in November to buy The Body Shop from Brazilian cosmetics giant Natura & Co.
The chain's remaining shops will continue to trade through stores and online during the administration process.
House Rules
We do not moderate comments, but we expect readers to adhere to certain rules in the interests of open and accountable debate.
Read the rules here