The UK arm of The Body Shop has entered administration, threatening jobs and shops.
As first reported by Sky News, FRP Advisory has been introduced in to deal with an insolvency course of simply weeks because the new house owners took management of the cosmetics retailer.
The Body Shop has roughly 200 retailers throughout the UK.
In a press release, it mentioned: “Today, the Directors of The Body Shop International Limited have appointed Tony Wright, Geoff Rowley, and Alastair Massey of business advisory firm FRP as Joint Administrators of the company, which operates The Body Shop’s UK business.
“Taking this method offers the soundness, flexibility and safety to search out the most effective technique of securing the way forward for The Body Shop and revitalizing this iconic British model. The Joint Administrators will now contemplate all choices to discover a method ahead for the enterprise and can replace collectors and workers in the end.”
According to newest firm accounts, The Body Shop had 2,568 workers within the UK of which 927 have been in administrative roles and 1,641 have been retailer workers in 2022.
The model’s world franchise companions are understood to not be impacted.
The British-based chain was acquired in November by personal fairness agency Aurelius in a deal it mentioned was valued at £207m.
At the time of the acquisition, The Body Shop employed about 10,000 individuals globally and operated roughly 3,000 shops in 70 nations.
Although it struggled with worthwhile progress for years, it stays a recognisable presence on British excessive streets.
It was based in 1976 by Dame Anita Roddick and her husband Gordon, championing environmental causes and opposing animal testing.
It was owned by L’Oreal between 2006 and 2017 earlier than being offered to Brazilian cosmetics group Natura.
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