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The Body Shop set to enter receivership in UK

2024-02-11T21:03:30.805Z

Highlights: The Body Shop set to enter receivership in UK. The group is “preparing to appoint” a restructuring specialist, where The Body Shop has around 200 stores. This procedure would not concern the group's global network, according to an internal source. The British brand was sold at the end of 2023 by its Brazilian owner Natura Cosmeticos to the German investment fund Aurelius.. Founded in 1976 in Brighton, in the south of the United Kingdom, and now present in 89 markets worldwide. Its headquarters are in London and the company employs 7,000 people.


The group is “preparing to appoint” a restructuring specialist, where The Body Shop has around 200 stores, according to the British press. This procedure would not concern the group's global network.


British cosmetics brand The Body Shop is set to enter receivership in the United Kingdom, threatening a significant number of jobs and sales outlets in that country, according to reports from

Sky News

.

According to the chain, the group

is "preparing to appoint"

a restructuring specialist to

"manage insolvency proceedings for its operations in the United Kingdom"

, where The Body Shop has around 200 stores.

This procedure will not concern the group's global network, according to an internal source, cited by Sky News.

Contacted by AFP, the group did not wish to comment on this information.

The British brand was sold at the end of 2023 by its Brazilian owner Natura Cosmeticos to the German investment fund Aurelius.

The amount of the transaction was much lower than the 1 billion euros paid by the Brazilian when he bought the group from the French giant L'Oréal in 2017.

Read alsoL'Oréal sells The Body Shop to Brazilian Natura Cosméticos

Founded in 1976 in Brighton, in the south of the United Kingdom, and now present in 89 markets worldwide, The Body Shop sells bath and body products based on natural ingredients, skin care and hair, perfumes and makeup.

Its headquarters are in London and the company employs around 7,000 people.

Source: lefigaro

All business articles on 2024-02-11

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