The Body Shop news and archive

The Body Shop secures ‘exclusivity’ agreement with investor consortium

Good news may be on the horizon for The Body Shop. The cosmetics retailer has reportedly signed an exclusivity agreement with a consortium led by investment platform Auréa Group, in a deal described by administrators to be representative of “the best outcome for creditors”. Following a “competitive” bidding process led by appointed administrator...

Business

The Body Shop: Marks & Spencer and Next among interested parties as sale edges closer

Following its initial collapse in February, a sales process for The Body Shop is reportedly in sight, with administrators having already expressed optimism regarding the interest received. Among the alleged potential bidders are that of Marks & Spencer and Next, two British retail giants that are believed to have already submitted early interest...

Business

The Body Shop: French subsidiary falls, UK CVA to be explored

Aurelius is continuing down the spiralling path of restructuring The Body Shop, and has now put the struggling beauty retailer’s French subsidiary into administration. Akin to similar moves in Germany, the UK, the US and Belgium, The Body Shop filed for bankruptcy with the Paris commercial court, as reported by various media, granting the...

Business

The Body Shop files for bankruptcy in US and Canada, closing stores, shutting operations

Ailing British beauty retailer The Body Shop has officially closed its US operations, with Canadian stores also facing imminent closure. Reports indicate that the company has filed for bankruptcy, and out of its 105 Canadian stores, 33 are set to undergo liquidation proceedings, as reported by CNN. Once celebrated as a B Corp and a pioneer in...

Business

Next and HMV’s Doug Putman among interested parties for The Body Shop

British retailer Next and the owner of music retailer HMV are reportedly among those eyeing a possible takeover of struggling cosmetics chain The Body Shop. Next is understood to have approached administrators to the retailer, FRP Advisory, regarding a possible sale of assets, according to sources for Sky News. Meanwhile, though HMV’s Doug...

BusinessFeatured

The Body Shop to shutter 75 UK stores, almost 800 jobs to be lost

As part of its administration process, The Body Shop is now preparing to close 75 stores across the UK over the next six weeks, with a reported 489 jobs believed to be on the line. These redundancies will be combined with the 300 head office jobs that are to also be cut amid an ongoing restructuring, as reported by the Guardian which cited a...

RetailFeatured

Body Shop suppliers left with 1 million dollars of unsold ingredients

As The Body Shop enters administration, its fair trade suppliers in Africa and the Amazon are grappling with the aftermath. Many find themselves burdened with significant stockpiles of ingredients, facing uncertainty about the prospect of selling them should stores be shuttered. Data unveiled by The Guardian indicates that several suppliers,...

Business

The Body Shop’s German business falls into administration, Belgium next

Following the fall into administration of its UK business, The Body Shop’s German stores are now beginning to close down after also taking the plunge, a process that will reportedly soon follow in Belgium. The closures are being carried out by restructuring specialist Aurelius, which snapped up the cosmetics retailer in an acquisition deal last...

Business

The Body Shop appoints administrators, thousands of jobs on the line

Cosmetics retailer The Body Shop has officially fallen into administration in the UK, appointing insolvency experts FRP Advisory to oversee the process. The move could put over 2,000 jobs at risk, various media have reported, with the company currently operating more than 200 shops throughout the UK. According to FRP, which released a statement...

Business

The Body Shop to reportedly offload portion of European and Asian operations

The Body Shop is understood to be mulling the sale of a significant portion of its business in Europe and Asia, representing an estimated 14 percent of its global operations. The retailer confirmed the report in a statement to Cosmetics Business, where it further noted that the sale would not impact its business in the UK. The company told the...

Fashion |Beauty Featured

The Body Shop receives landmark Vegan Society certification

The Body Shop has become the first global beauty brand to receive 100 percent vegan certification from The Vegan Society. The British beauty retailer said the landmark certification covers all ranges, including skincare, bodycare, haircare, make-up, and fragrance lines, achieving an ambitious target it set in 2021 when 60 percent of its products...

Business |Beauty Featured

The Body Shop sold to Aurelius for 207 million pounds

British ethical beauty brand The Body Shop has been sold by Brazilian beauty group Natura &Co to international private equity group Aurelius for 207 million pounds. Natura &Co said the move to sell the retailer would allow the beauty group “to simplify and refocus its operations,” and allow it to accelerate the integration of the Natura and Avon...