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Is The Body Shop closing down? Latest on shop closures and job cuts
13 February 2024, 16:16
Is The Body Shop closing down? Has it gone into administration? Who owns The Body Shop? Who founded The Body Shop?
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The Body Shop has entered into administration with restructuring firm FRP appointed to save the high street brand which has been around for almost 50 years.
The brand stores will remain open on the high street as the administrators consider all options to save The Body Shop including trying to substantially cut cost which could include shop closures and job losses.
Since being founded by the late Dame Anita Roddick in 1976, The Body Shop has grown and now has around 200 The Body Shop stores in the UK, with the brand stretching over a total of 70 counties.
But will The Body Shop stores close down? What does going into administration mean and who founded the brand?
Has The Body Shop gone into administration?
Yes, The Body Shop has gone into administration. The announcement that restructuring firm FRP have been appointed came on 13th February, following poor sales during Christmas 2023.
At the moment, the details of what this restructuring will look like it unknown but the firm has said they will be considering all options as they look to cut costs across the brand.
Which The Body Shop stores are closing down?
The Body Shop has not announced whether they will be closing stores across the UK high streets yet as part of the restructuring.
If they do, all 199 stores could be at risk of closing.
What does going into administration mean?
If a company goes into administration it means that they are not able to meet its expenses, debt obligations or other liabilities.
During this administration period, the company is legally protected by organisations or people who are owed money (also known as creditors).
Administration practitioners will then be appointed to either restructure the company, come to an arrangement with the creditors, sell off assets or liquidate the business.
Who owns The Body Shop and who founded it?
The Body Shop was founded in 1976 by Dame Anita Roddick from a single shop in Brighton.
In 2006, Dame Anita sold the company to L'Oreal for £652million. She died a year later.
Later, L'Oreal sold The Body Shop to Brazilian cosmetics group Natura for £880million. In November 2023, Aurelius purchased the company for £207million.
