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The Body Shop International Ltd is hiring administrators who may close ‘a significant chunk’ of its UK outlets, Sky News reported on Friday.
The Littlehampton, England-based cosmetics retailer was acquired in November by private equity firm Aurelius Group, in a deal valued at £207 million.
https://news.sky.com/story/new-body-shop-owner-to-call-in-administrators-for-uk-chain-13067609
However, retail sources told Sky News that following the deal’s close at the start of 2024, Aurelius concluded that trading was weaker than expected, and that The Body Shop had insufficient working capital.
Consequently, Sky reports that the retailer’s new owners are preparing to appoint FRP Advisory to manage an insolvency process for The Body Shop’s British arm.
City sources said the administrators may consider closing ‘a significant chunk’ of The Body Shop stores in the UK, which could in turn ‘threaten significant numbers’ of jobs.
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