On 13th February 2024, the UK business of The Body Shop entered administration, potentially putting the jobs of up to 2,000 employees at risk. Despite this, the retailer’s stores will remain open as administrators work to save the UK firm. FRP, the appointed restructuring firm, aims to explore all options to find a way forward for the business.
The Body Shop was founded in 1976 by Dame Anita Roddick in Brighton and has since expanded into a global brand focusing on ethical trading and opposing animal testing of beauty products. FRP aims to create a more financially stable UK business that is relevant to customers and able to compete long-term.
The administrators are expected to cut costs, including on property and rents, which may lead to job cuts. However, it’s unlikely that The Body Shop name will disappear from Britain’s High Streets after nearly 50 years. With over 200 shops, a few franchises, and its headquarters in London, the British business remains strong despite recent challenges.
Aurelius, the private equity firm that purchased The Body Shop for £207m in November after poor sales during the Christmas trading period placed it into administration. There is hope that The Body Shop will be restructured to better compete with brands like Lush popular with younger shoppers.
Since its sale by founder Dame Anita in 2006, shortly before her death in 2007, The Body Shop has changed hands three times but remains committed to its mission of ethical trading and environmental sustainability.