Keystone SDA | Thursday, February 29, 2024
After the bankruptcy of its British business, cosmetics retailer The Body Shop is now closing 75 of its approximately 200 branches in the country. As a result, 489 employees will lose their jobs, bankruptcy administrators announced Thursday.
7 branches were closed immediately after bankruptcy. It is said that 116 shops were currently open. The plan is to have a smaller store area to focus on the brand's products, online sales channels and wholesale strategies. It is “to support a return to financial stability”.
“By taking the right-sized and quick move to The Body Shop UK's store network, we have stabilized the business and give this iconic brand the best chance of a long-term, sustainable future,” said executive Tony Wright. The announcements only affect the British division, which filed for bankruptcy two weeks ago. Shortly thereafter, the company filed for bankruptcy for its branch in Germany.
The Body Shop is owned by German investment firm Aurelius. Founded in 1976 by Anita Roddick and her husband Gordon, the brand was one of the first companies to focus on ethically produced cosmetics and skin care products and to avoid animal testing in the production of their products.
“Friend of animals everywhere. Web guru. Organizer. Food geek. Amateur tv fanatic. Coffee trailblazer. Alcohol junkie.”
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