(Alliance News) – The Body Shop International Ltd. has appointed a bankruptcy administrator, putting thousands of jobs at the cosmetics chain at risk.
Littlehampton, England-based cosmetics retailer, which operates more than 200 stores across the UK, has appointed insolvency administrators FRP Advisory Group PLC to oversee the proceedings.
FRP said officials would “consider all options to find a way forward” for the company, which has been struggling financially for years and faces a difficult environment for customers.
The retail chain will continue to operate in its stores and online during the administration process.
The retailer was founded in 1976 by Anita Roddick and her husband, Gordon, as one of the first companies to promote so-called ethical consumption, focusing on ethically produced cosmetics and skincare products.
It comes just weeks after the new owner, European private equity firm Aurelius, took control of the company in a deal worth £207m.
By Henry Sacker Clark, PA Associate Business Editor
Press Association: Finance
Source: Palestinian Authority
Copyright 2024 Alliance News Ltd. All rights reserved.
“Total coffee aficionado. Travel buff. Music ninja. Bacon nerd. Beeraholic.”