High road fave Body Shop set to shut as administration threatens 22,000 jobs
One of the UK’s most well-known excessive road shops is feared to be getting ready to administration.
And the closure of The Body Shop, a UK enterprise arrange in 1976 by the late Dame Anita Roddick, may result in retailer closures and job losses throughout its greater than 200 retailers within the UK. The firm was not too long ago taken over by personal fairness agency Aurelius.
Reports recommend that directors will probably be introduced on this week to restructure the enterprise following disappointing Christmas buying and selling. The BBC reported that restructuring professional FRP Advisory is more likely to be appointed because the administrator.
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They will doubtless concentrate on lowering prices, together with excessive road property and lease bills, and strengthening the model’s on-line presence. The Body Shop has modified palms a number of occasions since founder Dame Anita bought it to French magnificence large L’Oreal for £652m in 2006. It was later bought to Brazilian magnificence large Natura in 2017 for £880m earlier than being acquired by Aurelius for £207m in late 2023.
The Body Shop presently boasts about 10,000 staff and an additional 12,000 individuals working through franchises. With a whopping presence in roughly 3,000 retailers unfold over 70 nations, it said its enterprise intentions to Retail Week: “This additional prioritises The Body Shop’s strategically essential markets and international head franchise associate relationships, which it can search for alternatives to construct.
“The Body Shop will also focus on more effectively reaching customers by strengthening digital platforms, developing new sales channels, and via differentiated retail experiences.”
The Daily Star has contacted The Body Shop for remark.
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