The Body Shop will close 75 UK stores in the coming weeks and lay off around 500 people – Idealista/news

The British division of the cosmetics, skincare and fragrance company The Body Shop will close 75 stores Over the next six weeks, which will lead to the dismissal of 489 people, said bankruptcy managers at FRP Advisory, which is responsible for restructuring operations in the United Kingdom.

In this way, if the 300 jobs that will be eliminated at the London headquarters are taken into account, nearly 800 people will lose their jobs. However, officials emphasized this 116 facilities will continue to operate normally.

Tony Wright, joint director, said: “By taking swift action to resize The Body Shop’s UK store portfolio, we have stabilized the business and provide the best opportunity for this iconic brand to have a sustainable long-term future.”

At the time of the formalization of the purchase by German venture capital firm Aurelius in November 2023, The Body Shop had about 7,000 people in 89 markets, with 900 stores under direct operation and a further 1,600 through franchises. Of these, 2,200 people were on Britain's payroll.

In addition, The Body Shop's divisions in Belgium, where it has 16 stores and 50 employees, and Denmark, have declared bankruptcy. In this sense, the Irish company is also expected to be liquidated next week, while the German division is already under bankruptcy administration.

See also  The Body Shop enters bankruptcy in the United Kingdom and threatens to lose 2,000 jobs

Leave a Reply

Your email address will not be published. Required fields are marked *