International cosmetics retailer Body Shop has filed for bankruptcy in Great Britain and Germany. According to the Federal Government Gazette, the company has more than 200 branches in the United Kingdom and 66 in Germany in 2021.
The company is owned by the German investment company Aurelius and was founded in 1976 by Anita Roddick and her husband Gordon. The retailer is one of the first companies to focus on ethically produced cosmetics and skin care products and avoid animal testing in their production. Aurelius, based in Grünwald near Munich, acquired The Body Shop from the Brazilian company Natura in November 2023 for 207 million pounds (243 million euros).
10,000 jobs worldwide
At the time, around 10,000 people worked for The Body Shop worldwide. There are currently 2,500 in Great Britain and more than 350 in Germany. The company, which is represented in 89 countries, also has branches in Austria. It was initially unclear how many of the tracks are now shaky.
Looking for new owners
Students must look for new owners for the branches, the company announced on Tuesday. “This approach provides the stability, flexibility and certainty to identify the best resources to secure the future of The Body Shop and breathe new life into this iconic British brand,” the company said. In Germany, lawyer Bines Bähr from Düsseldorf was appointed provisional administrator.
Aurelius recently agreed to sell the company’s operations in most of continental Europe and parts of Asia to an asset manager.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
