New house owners of The Body Shop rent directors weeks after £207m deal

  • This is a breaking information story, extra to comply with 

The new house owners of The Body Shop have referred to as in insolvency directors simply weeks after it purchased the chain in a £207 million deal. 

The chain, based by the late Dame Anita Roddick who handed away in 2007, was bought by Brazilian cosmetics chain Natura & Co to Aurelius Group in November in a £207 million deal, which noticed the funding group tackle the chain’s 250 British shops. 

Aurelius, which additionally owns sportswear retailer Footasylum and the now-bankrupt healthcare chain Lloydspharmacy, is now making ready to nominate FRP Advisory to deal with the insolvency means of the corporate’s UK operations, Sky News reviews. 

An insider instructed Sky that the transfer would seemingly end in a major variety of The Body Shop’s British shops to shut, although have been fast to emphasize that it was untimely to invest on actual numbers. 

They added that the insolvency of its UK arm wouldn’t impression the operation of its shops in the remainder of the world. 

The Body Shop, founded by the late Dame Anita Roddick who passed away in 2007, was sold by Brazilian cosmetics chain Natura & Co to Aurelius Group in November

The Body Shop, based by the late Dame Anita Roddick who handed away in 2007, was bought by Brazilian cosmetics chain Natura & Co to Aurelius Group in November

Last week, it was revealed that Aurelius, which purchased the corporate in 2017 from L’Oreal for round £850 million, handed over a lot of its Europe and Asia enterprises to an unnamed ‘worldwide household workplace’ as a part of its turnaround technique for the long-troubled well being retailer, which instantly employs round 10,000 individuals internationally. 

And simply yesterday, it was revealed that The Body Shop’s former house owners Natura wrote to Aurelius to seek out out why former staff have not but acquired bonuses value £2million and £3 million that have been promised as a part of their severance. 

RetailWeek reported that 20 former Body Shop staff are collectively owed the sum of cash that they’ve nonetheless not been paid. 

The Body Shop was first arrange in 1976, opening its first retailer in Brighton, with the goal of offering well being merchandise made with ‘ethically sourced and naturally-based components’ that weren’t examined on animals. 

Just seven years later, the enterprise had grown to 138 shops, due to a franchising mannequin that noticed a speedy rise in brick-and-mortar areas. 

In 1984, the corporate was publicly listed in London, and its inventory value by practically 11,000% within the first eight years of its itemizing.  

By 1994, 9 out of ten Body Shop areas have been franchises. 

In 2006, The Body Shop was bought to L’Oreal for greater than £650 million, a transfer that was thought-about controversial on the time given the French firm’s coverage of animal testing. 

Both Aurelius and FRP Advisory declined to remark when method by MailOnline.  

MailOnline has contacted The Body Shop for remark. 

More to comply with.