The Body Shop Files for Bankruptcy: Where Did It All Go Wrong"
Founded by Dame Anita Roddick, the ethically branded store has suffered through several business decisions that led up to filing for bankruptcy protection.
The post The Body Shop Files for Bankruptcy: Where Did It All Go Wrong" appeared first on LUXUO.
“It didn?t change with the times,” reads reports as The Body Shop Canada Ltd. files for bankruptcy. The news comes as The Body Shop Canada makes plans to close 33 of its stores and halt its e-commerce operations as it seeks to restructure under the Bankruptcy and Insolvency Act. This comes after The Body Shop?s Denmark arm filed for bankruptcy, with 15 stores to close and approximately 90 roles set to be impacted while The Body Shop’s German operation filed for bankruptcy in the Düsseldorf District Court.
The Body Shop?s UK business has also fallen into administration, putting more than 2,000 jobs and 200 stores at risk in a further blow to Britain?s shopping districts. The retailer, owned by private equity firm Aurelius, appointed administrators at FRP Advisory on Tuesday, 13 February. Aurelius said the move was the best way of securing the brand?s future. The buyout firm, which also owns sportswear chain Footasylum and Lloyds Pharmacy, agreed to acquire The Body Shop from Brazilian cosmetics conglomerate Natura & Co late last year, in a deal that valued the retailer at £207 million (USD 351.5 million). Natura & Co had owned the brand since buying it from L?Oreal in 201...
The post The Body Shop Files for Bankruptcy: Where Did It All Go Wrong" appeared first on LUXUO.
“It didn?t change with the times,” reads reports as The Body Shop Canada Ltd. files for bankruptcy. The news comes as The Body Shop Canada makes plans to close 33 of its stores and halt its e-commerce operations as it seeks to restructure under the Bankruptcy and Insolvency Act. This comes after The Body Shop?s Denmark arm filed for bankruptcy, with 15 stores to close and approximately 90 roles set to be impacted while The Body Shop’s German operation filed for bankruptcy in the Düsseldorf District Court.
The Body Shop?s UK business has also fallen into administration, putting more than 2,000 jobs and 200 stores at risk in a further blow to Britain?s shopping districts. The retailer, owned by private equity firm Aurelius, appointed administrators at FRP Advisory on Tuesday, 13 February. Aurelius said the move was the best way of securing the brand?s future. The buyout firm, which also owns sportswear chain Footasylum and Lloyds Pharmacy, agreed to acquire The Body Shop from Brazilian cosmetics conglomerate Natura & Co late last year, in a deal that valued the retailer at £207 million (USD 351.5 million). Natura & Co had owned the brand since buying it from L?Oreal in 201...
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