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The Body Shop Closing Half of UK Stores

 

The UK arm of The Body Shop cosmetics group is set to close nearly half of its 198 outlets as part of a restructuring plan announced by administrators FRP Advisory. The renowned business, with a nearly 50-year history of promoting ethical hair and skin products, will immediately shut down seven stores, including four in London. While specific details about job losses among the approximately 1,500 employees in UK stores were not provided by the administrators, they mentioned that around 270 roles would be eliminated from the London head office, constituting approximately 40% of the workforce there.

The decision follows The Body Shop's recent appointment of FRP Advisory to manage the business, a few months after its acquisition by German private equity firm Aurelius. Aurelius has already divested the cosmetic group's operations in most of mainland Europe and parts of Asia.

The statement from administrators on Tuesday highlighted the company's years of unprofitability and the conclusion, after a full evaluation, that the current store portfolio mix is no longer viable. The restructuring aims to achieve a reduced store footprint, emphasizing a renewed focus on the brand's products, online sales channels, and wholesale strategies to support a return to financial stability.

Founded in 1976 by Anita Roddick, The Body Shop expanded rapidly with a commitment to offering products not tested on animals. Roddick, who passed away in 2007, also emphasized environmental sustainability, encouraging customers to return empty containers for refilling at the original shop in Brighton, England. The recent changes come against the backdrop of The Body Shop's shifting ownership, including periods under French cosmetics giant L'Oreal and Brazil's Natura Cosmeticos before its recent acquisition by Aurelius.

Feb. 21, 2024 2:31 p.m. 1237

#breakingnews #worldnews #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #TheBodyShop #StoreClosure #BusinessRestructuring #EthicalProducts #FRPAdvisory #AureliusGroup #CosmeticsIndustry #RetailNews #JobLosses #FinancialStability #CorporateRestructure #UKRetail #BusinessChallenges #CosmeticsBrand

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