The Body Shop to Close Nearly Half of Its UK Stores
The Body Shop, a company recognized for its ethically-sourced beauty products, will shutter seven of its locations, including four in London, as announced by administrators from FRP Advisory.
Almost 50% of the brand's 198 UK stores face closure.
This decision comes as part of efforts by FRP Advisory, hired last week by The Body Shop, to salvage parts of the struggling company. The Body Shop, which employs roughly 1,500 staff in UK stores, has yet to disclose how many jobs will be affected.
However, approximately 270 jobs will be cut from its London headquarters, indicating a 40% reduction in staff there.
Formerly acquired by German private equity firm Aurelius, The Body Shop has seen its mainland Europe and parts of Asia divisions sold off. According to FRP Advisory, the UK store setup is unsustainable after persistent unprofitability. Their strategy involves downsizing the number of stores while emphasizing product development, online sales, and wholesale strategies to regain financial stability.
Anita Roddick, who founded The Body Shop in 1976 and passed away in 2007, was notable for her commitment to cruelty-free and environmentally conscious business practices, such as offering product refills at her original Brighton store. The company has changed hands several times, having been owned by L'Oreal, Brazil's Natura Cosmeticos, and most recently sold prior to its financial troubles.