The Body Shop calls in administrators but Cambridge store remains open
Thousands of jobs at The Body Shop are at risk as administrators were called in at the chain.
The retailer, whose Cambridge store is on Petty Cury, was founded in 1976 by Anita Roddick and her husband Gordon as one of the first companies to promote ethical consumerism. With 199 shops across the UK, insolvency experts FRP Advisory were appointed to oversee the process.
The administrators said they will “consider all options to find a way forward for the business” after years of financial struggles. A spokesperson for the company stressed that the process will only affect its UK business, with international franchises not impacted.
The FRP spokesperson added: “The Body Shop remains guided by its ambition to be a modern, dynamic beauty brand, relevant to customers and able to compete for the long term.
“Creating a more nimble and financially stable UK business is an important step in achieving this.
“The Body Shop has faced an extended period of financial challenges under past owners, coinciding with a difficult trading environment for the wider retail sector.”
The cosmetics chain will continue to trade in stores and online during the process.
The drama comes only weeks after new owners, European private equity firm Aurelius, took control of the business.
Aurelius, which specialises in buying and turning around troubled firms, secured a £207million deal in November to buy The Body Shop from Brazilian cosmetics giant Natura & Co.
It took control of operations officially on January 1.
The business employed around 10,000 people worldwide at the time of the takeover, 2,000 of whom are in the UK, but sales had slumped from £275m in 2021 to £197m in 2022.
Aurelius agreed a deal late last month to sell the company’s operations in most of mainland Europe and in parts of Asia to an international family office in a “decisive step towards delivering a strong turnaround strategy” at The Body Shop.
The Petty Cury store remains open, with online sales continuing.
