Job Losses Likely as the Body Shop Lines Up Administrators

The Body Shop, the skincare and cosmetics retailer based by the campaigner Anita Roddick within the Seventies, is about to nominate directors in a transfer prone to end in misplaced jobs and store closures.

The pan-European personal fairness investor Aurelius purchased the corporate six weeks earlier than Christmas however mentioned buying and selling over the festive interval and early January had been weak.

The retail chain, which has greater than 200 retailers, additionally didn’t have sufficient working capital to proceed buying and selling in its present type.

Directors at FRP Advisory are prone to be appointed as quickly as this week to deal with an insolvency course of, Sky Information reported, citing sources who mentioned they anticipated the closure of a major variety of the shops. The Physique Store’s worldwide companies have already been offered to an unknown household workplace, based on Retail Week.

Roddick, an environmental campaigner, activist and entrepreneur, based the Physique Store in Brighton in 1976. The corporate remained beneath her possession for 3 many years, till she offered it in 2006. Roddick died the next 12 months.

By then, The Physique Store had develop into synonymous with its moral positions, together with a refusal to inventory merchandise examined on animals and a sourcing of elements from pure merchandise which can be traded ethically.

Roddick’s determination to promote the enterprise to the French company L’Oréal for £652 million ($822 million) attracted criticism from those that noticed it as a departure from the corporate’s values.

The Physique Store has modified arms twice since then, ending up within the possession of Aurelius in November.

By Rob Davies

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Brazil’s Natura Sells The Body Shop to Aurelius in $254 Million Deal

The Brazilian cosmetics maker mentioned the settlement features a potential earn-out of £90 million, including that each the sale value and the earn-out can be paid inside 5 years of the transaction closing.