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Cosmetics retailer The Body Shop is also sliding into bankruptcy in Germany

Cosmetics retailer The Body Shop is also sliding into bankruptcy in Germany

The Body Shop, a cosmetics retailer, also filed for bankruptcy for its branch in Germany. The Body Shop Germany GmbH filed a similar application with the Düsseldorf District Court, according to court announcements. Düsseldorf lawyer Benner Baar has been appointed interim insolvency administrator. According to the Federal Gazette, the chain will have 66 branches and more than 350 employees in Germany in 2021. In addition to its own branches, the cosmetics chain also has a few franchisees.

The Body Shop had already filed for bankruptcy for its stores in its home country of Great Britain on Tuesday. The company operates more than 200 stores in the UK.

The company is owned by the German investment company Aurelius. Founded in 1976 by Anita Roddick and her husband, Gordon, The Body Shop was one of the first companies to focus on ethically produced cosmetics and skincare products and avoid animal testing in the production of its products.

Represented in 89 countries around the world

Aurelius, based in Grünwald near Munich, acquired The Body Shop from Brazilian company Natura in November 2023 for 207 million pounds (243 million euros). At the time, The Body Shop employed about 10,000 people worldwide. The brand was previously owned by the French group L'Oréal.

Recently, Aurelius agreed to sell the company's operations in most of continental Europe and parts of Asia to the asset management company. For 2022, The Body Shop reported a pre-tax loss of £71 million on sales of £408 million. According to its own information, the company is represented in 89 countries around the world.

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