Friday, March 1, 2024

Thousands of jobs at risk as The Body Shop falls into administration

Must read

The Body Shop has hired administrators, putting thousands of jobs at the cosmetics chain at risk.

The retailer, which runs more than 200 shops across the UK, has appointed insolvency experts from FRP Advisory to oversee the process.

FRP said the administrators will “consider all options to find a way forward for the business” after years of financial struggles and amid a challenging backdrop for shoppers.

Aurelius agreed to buy The Body Shop in November (Alamy/PA)

The retailer was founded in 1976 by Anita Roddick and her husband Gordon as one of the first companies to promote so-called ethical consumerism, focusing on ethically produced cosmetics and skincare products.

It comes only weeks after new owners, European private equity firm Aurelius, took control of the business.

Latest article