May 22, 2024

The Body Shop files for bankruptcy in the UK

(Keystone SDA) The Body Shop, a cosmetics retailer, has filed for bankruptcy in Great Britain. The company operates more than 200 stores in the UK. It was not initially clear how many of the 2,500 jobs in Great Britain were at risk.

Insolvency administrators must search for new owners for the stores, the company announced on Tuesday. She said: “This approach provides stability, flexibility and security to find the best means to secure the future of The Body Shop and revitalize this iconic British brand.”

Founded in 1976 by Anita Roddick and her husband, Gordon, The Body Shop was one of the first companies to focus on ethically produced cosmetics and skin care products and avoid animal testing in the production of its products.

The German investment company Aurelius acquired The Body Shop from the Brazilian company Natura only in November 2023 for 207 million pounds sterling. At the time, The Body Shop employed about 10,000 people worldwide. The brand was previously owned by the French group L'Oréal.

Recently, Aurelius agreed to sell the company's operations in most of continental Europe and parts of Asia to the asset management company. For 2022, The Body Shop reported a pre-tax loss of £71 million on sales of £408 million.