British high-street retailer The Body Shop has announced the closure of 75 stores across the UK within the six weeks to mid-April 2024, resulting in the loss of 489 jobs.
The decision comes as part of a restructuring process overseen by administrators from FRP Advisory.
Go deeper with GlobalData
The store closures are widespread, impacting locations from Swansea to Glasgow.
On top of the 300 redundancies at the company’s head office announced in February 2024, almost 800 employees will be affected.
116 Body Shop stores will remain operational in the UK. The restructuring is limited to the company’s UK operations.
FRP joint administrator Tony Wright was quoted by the Guardian as saying: “In taking swift action to right-size the Body Shop UK store portfolio, we have stabilised the business and are providing the best opportunity for this iconic brand to have a long-term, sustainable future.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“The UK business continues to trade in administration, and we remain fully focused on exploring all options to take the business forward.”
Internationally, the company’s Belgian division, with its 16 stores and 50 employees, has also reportedly faced bankruptcy, and in Ireland, where the company operates seven stores and employs 50, operations are expected to liquidate in early March.
The company’s Denmark business also went into bankruptcy in late February and appointed Bech-Bruun lawyer Anders Hoffmann Kønigsfeldt as the administrator.
This will lead to the closure of 15 stores and 90 job losses, while some Body Shop stores operated by franchisees will remain unaffected.
In a LinkedIn post, The Body Shop Denmark senior retail manager Tine Mohr Jensen said: “The Body Shop will always be cherished. I hope from the bottom of my heart The Body Shop will stand strong again all over the world.”
The brand previously operated approximately 1,000 company-owned stores worldwide, alongside an additional 1,600 franchise branches.
The retailer, which employs 2,200 people in the UK, entered administration in mid-February, shortly after being acquired by restructuring firm Aurelius in November 2023.
