April 22, 2024

The Body Shop files for bankruptcy in the UK

Insolvency administrators must search for new owners for the stores, the company announced on Tuesday. “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,” she said.

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 skincare 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.

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