Thousands of jobs have been placed at risk after The Body Shop confirmed it has hired administrators. The high street retailer, which operates more than 200 shops across the UK, filed a notice to appoint administrators on Monday (February 12).
The Body Shop will continue to trade, with no confirmation that stores will shut anytime soon. It comes just a few weeks after European private equity firm Aurelius took ownership of the franchise in a £207 million deal.
The firm speciliases in buying and turning around troubled major business. Try MEN Premium now for FREE... just click here to give it a go. FRP, administrators of The Body Shop, said: “The Body Shop has faced an extended period of financial challenges under past owners, coinciding with a difficult trading environment for the wider retail sector.
Having taken swift action in the last month, including closing down The Body Shop At Home and selling its business across most of Europe and in parts of Asia, focusing on the UK business is the next important step in The Body Shop’s restructuring.” The administrators added: “The Body Shop remains guided by its ambition to be a modern, dynamic beauty brand, relevant to customers and able to compete for the long term.Read more on manchestereveningnews.co.uk