June 16, 2024

The Body Shop cosmetics retailer – its branches in Dresden and Leipzig – has declared bankruptcy

The Body Shop branches in Saxony will remain open for the time being

The insolvent cosmetics chain is looking for a new buyer. In Great Britain, many branches have been closed, but in Germany, according to the insolvency administrator, operations will initially continue as usual.

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The Body Shop, a cosmetics retailer, has filed for bankruptcy for its UK and German companies.
© Zuma PressWire

Dusseldorf. At the bankrupt German branch of cosmetics retailer Body Shop, no branches will be closed for the time being. “We are not thinking about closing branches at the moment,” interim insolvency administrator Binner Baar told German news agency DPA on Friday. Business operations continue as usual for more than 400 employees in 63 branches in Germany. In Saxony, the Body Shop has a branch in the Altmarktgalerie in Dresden and one in downtown Leipzig.

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The Body Shop filed for bankruptcy in Germany two weeks ago. According to Bahar, business operations have stabilized and ways to restructure the company are now being sought. “We are looking for a buyer to take over all the branches. We hope to have this completed by the end of April.” In the coming weeks, it will be checked, among other things, whether “the rental agreements are still on time.” Regarding the future prospects of the cosmetics chain in Germany, the lawyer also holds the clients responsible. “I hope they will remain loyal to us, and this will of course help in the restructuring efforts.”

The Body Shop focuses on ethically produced cosmetics

Recently, the British division of The Body Shop also filed for bankruptcy. On Thursday, it was announced that 75 state branches would be closed and 489 employees would lose their jobs. 116 Body Shop locations in the UK will remain open. The Body Shop is owned by German investment firm Aurelius. The brand was founded in 1976 and was one of the first companies to focus on ethically produced cosmetics and skincare products. (dpa)

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