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The Body Shop Announces Closure of Seven UK Stores Amid Restructuring
The Body Shop, a renowned retailer known for its ethically sourced beauty products, is set to close seven of its stores in the UK today, February 20, as part of a broader restructuring effort. The closures come after the company fell into administration last week, prompting administrators to take swift action to stabilize the business.
Among the stores slated for immediate closure are four locations in London, including Surrey Quays, Oxford Street, Canary Wharf, and Cheapside. Additionally, stores in Nuneaton (Warwickshire), Ashford town centre (Kent), and Queens Road Bristol will also shut their doors for good.
The decision to close these stores is part of a comprehensive evaluation of The Body Shop’s UK business, with administrators from FRP Advisory determining that the current store portfolio mix is no longer viable. This move is aimed at re-energizing the brand and providing it with a solid platform to achieve long-term profitability and competitiveness in the beauty market.
As a result of the closures, approximately 270 head office jobs will be cut, leaving around 400 workers at The Body Shop’s London headquarters. Moreover, hundreds of employees across the affected stores are expected to face redundancy due to the proposed closures.
While these seven stores are closing immediately, The Body Shop’s other outlets will continue to operate until further updates are provided by the insolvency experts overseeing the restructuring process.
The Body Shop, founded in 1976 by Anita Roddick and her husband Gordon, has long been recognized for its commitment to ethical consumerism and environmentally friendly practices. However, recent challenges in profitability led to the company’s acquisition by European private equity firm Aurelius in November 2023.
Aurelius, specializing in revitalizing troubled firms, secured a £207 million deal to acquire The Body Shop from Brazilian cosmetics giant Natura & Co. The closure of select stores and the broader restructuring efforts underscore Aurelius’ commitment to reshaping The Body Shop’s operations and restoring its position as a dynamic and competitive beauty brand.
While the closures represent a significant change for The Body Shop, stakeholders remain optimistic about the brand’s future under Aurelius’ ownership. As the company navigates through this transitional period, it aims to emerge stronger and more resilient in the ever-evolving beauty industry landscape.
