Cosmetics brand The Body Shop placed in receivership in the United Kingdom

Cosmetics brand The Body Shop placed in receivership in the United Kingdom

It is a global cosmetics giant that is in decline. British beauty chain The Body Shop has been placed in receivership in the United Kingdom, this Tuesday, February 13, according to a press release from the brand. “The directors of Body Shop International Limited have appointed” consultancy firm FRP to manage the recovery And restructuring of British activities” of the company in order to “revitalize this iconic brand”, it is specified in the press release.

This procedure endangers around 2,000 jobs in the country and nearly 200 shops. However, it only concerns the United Kingdom, and not the rest of the global network of this brand known for its early commitments on recycling or against animal testing. French stores should therefore not suffer the repercussions of this measure.

A brand present in 89 countries

The brand was founded in 1976 by Anita Roddick in Brighton, a seaside resort in the south-east of England. She opened her own boutique before developing the business in other British cities, then internationally in 89 countries. The Body Shop sells bath and body products based on natural ingredients, skin and hair care, perfumes and makeup.

The company was sold at the end of 2023 by its former Brazilian owner Natura Cosmeticos to the German investment fund Aurelius for around 245 million euros. A transaction amount well below the 1 billion euros paid by the Brazilian when he bought the group from the French giant L’Oréal in 2017.

Source link