As many as 2,000 jobs could be at risk for The Body Shop’s UK business – including two Suffolk shops – as the firm appoints administrators.
All its stores will continue trading as administrators work to ‘revitalise’ the high street staple.
News broke over the weekend that the brand would enter administration, with FRP Advisory named as likely administrators.
The notion was filed this morning.
It is not yet known how many shops face the chop but it is understood only the UK operations are under threat.
A spokesman for The Body Shop UK said the firm had faced an extended period of financial challenges under previous owners.
This was in-line with a difficult trading environment for the entire retail sector, he said.
The spokesman added: “Having taken swift action in the last month, including closing down The Body Shop At Home and selling its business across most of Europe and in parts of Asia, focusing on the UK business is the next important step in The Body Shop’s restructuring.”
Founded by Dame Anita Roddick, who passed away in 2007, the brand was only sold by Brazilian cosmetics chain Natura & Co to Aurelius Group in November in a £207 million deal.
Aurelius, which also owns sportswear retailer Footasylum and the now-bankrupt healthcare chain Lloydspharmacy, is now in the process of appointing FRP Advisory to handle the insolvency process of the company’s UK operations, according to Sky News.
The Body Shop first opened in Brighton back in 1976 with the goal of producing health products made with ethically-sourced and naturally-based ingredients that were not tested on animals.
Just seven years later, the business had grown to 138 stores across the country after incorporating a franchising model which saw a rapid rise in brick-and-mortar locations.