Aurelius is taking The Body Shop’s UK business to bid

The Body Shop goes to court. The British division of cosmetics, skincare and fragrance company The Body Shop has been set up Under bankruptcy administration of FRP Consulting Management Company. The decision comes less than three months after the company was purchased by the German Aurelius Fund for 207 million pounds (243.2 million euros).

The German venture capital firm realized this The company was unable to revive it after its poor performance during the Christmas campaign. For their part, bankruptcy administrators said they would “consider all options to move the business forward” after years of economic difficulties.

As reported by the manager, the physical and physical operation of the stores will continue normally during the operation Only assets located in the UK will be affectedbut not in other countries.

“The Body Shop continues to be guided by its ambition to be a modern and dynamic beauty brand, essential to its customers and competitive in the long term,” said officials, who stressed that A “lighter” and “financially stable” structure must be achieved.

the operation It could put more than 2,200 jobs at riskAs announced earlier in the week. This movement joins a series of other strategic moves made by the company, such as closing more than a hundred facilities during 2023 or the departure of the CEO months after his appointment.

It was The Body Shop It was founded in 1976 by environmental activist Anita Ruddick and her husband, Gordon Ruddick. The company has approximately 200 UK stores, a distribution center and the group headquarters.

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At the time of the formalization of the purchase by Aurelius in November 2023, The Body Shop employs about 7,000 people in 89 marketswith 900 stores in direct operation and another 1,600 through franchises.

According to the latest data, in the second quarter of the current fiscal year, The Body Shop It reduced its sales volume by 12%, reaching 800 million riyals (152 million euros).The result before taxes amounted to 23.3 million riyals (about four million euros). In its first backlog (ending June), the chain cut its income by 15%.

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