The Body Shop plans to close dozens of stores in the UK and Canada



NEW YORK (AP) — The Body Shop has ended its American operations. s. operations and is shutting down dozens of stores in Canada as the British beauty and cosmetics chain faces increasingly dire financial circumstances.

The Body Shop’s U.S. s. , as stated in a statement released by the company earlier this month, ended operations on March 1. Additionally, 33 closing stores were put through liquidation by the brand’s Canadian subsidiary as part of larger restructuring procedures.

Only a few weeks have passed since the U.S. G. After years of financial difficulties, the -based retailer appointed insolvency administrators who will evaluate “all options to find a way forward.”.

82 out of the 198 stores in the United States will be closed, according to a spokesman for FRP, the administrators employed by The Body Shop International, who spoke with The Associated Press on Monday. KK. Over the next five weeks, those closures are anticipated to take place.

The Body Shop’s U.S. operations are not supervised by FRP. S. or subsidiaries in Canada. Monday inquiries for more details were not immediately answered by a representative for The Body Shop North America.

The Body Shop Canada announced on March 1 that it had filed a notice of intention under the Bankruptcy and Insolvency Act of the nation “to obtain a stay” of its parent company’s administration proceedings in the U.S. KK. — and “provide more breathing room as it assesses its strategic options and puts some restructuring initiatives into action.”. “.

The Body Shop Canada said at the time that while all 105 of its locations remained open, the 33 closures and the discontinuation of online sales through the country’s e-commerce platform were expected to happen “shortly.”. “.

Information regarding when U.S. will close and liquidate. S. Locations were not given right away.

The Body Shop, established in 1976 by Anita Roddick and her spouse, is frequently praised for being a pioneer in the field of business ethics. The retailer of cosmetics, soaps, and creams has supported ethical business practices and cruelty-free products.

After going public on the London Stock Exchange in the 1980s, the brand experienced enormous growth and now has stores in about 80 countries, many of which are franchised.

The Body Shop was sold to cosmetics behemoth L’Oreal by Roddick and her spouse in 2006. Later, in 2017, the brand was transferred to Natura, a Brazilian cosmetics company. Later that year, in a deal worth $261 million (207 million pounds), the brand was sold to Aurelius, a private equity firm that specializes in purchasing and turning around troubled businesses.

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