The Body Shop news and archive

The Body Shop CEO exits, successor named

One year after his appointment, Charles Denton is stepping down as chief executive officer of The Body Shop. Denton joined the company weeks before it was rescued from administration by a consortium led by British entrepreneur Mike Jatania, who will now take up the helm position as Denton’s successor. The news was announced on Denton’s LinkedIn...

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Business

The Body Shop ‘back for good’ as profits reportedly rise

The new owners of The Body Shop have said that the once flailing cosmetics retailer was “back for good” as it reportedly garnered a profit over its initial three months under new leadership. The company was bought out of administration in September by an investor consortium led by Mike Jatania’s Aurea Group, which has since been leading the...

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Business

The Body Shop CEO reveals ‘market by market’ comeback following Iberia owner shift

After proceeding into a lengthy administration process, The Body Shop appears to be making a slow, yet determined return. On the heels of confirmation that it had secured a new owner for its Iberia business, the cosmetics retailer’s CEO, Charles Denton, has reaffirmed that a comeback is on the horizon. In a post on LinkedIn, Denton said: “We’re...

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Business|Beauty

The Body Shop acquired out of administration

British ethical beauty brand The Body Shop has been rescued from administration by a consortium led by British tycoon Mike Jatania, safeguarding around 1,300 jobs. Jatania’s investment firm Auréa said it has secured the British retailer for an undisclosed sum, securing the brand’s 113 stores in the UK, as well as its assets in North America and...

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Business

The Body Shop secures ‘exclusivity’ agreement with investor consortium

Good news may be on the horizon for The Body Shop. The cosmetics retailer has reportedly signed an exclusivity agreement with a consortium led by investment platform Auréa Group, in a deal described by administrators to be representative of “the best outcome for creditors”. Following a “competitive” bidding process led by appointed administrator...

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Business

The Body Shop: Marks & Spencer and Next among interested parties as sale edges closer

Following its initial collapse in February, a sales process for The Body Shop is reportedly in sight, with administrators having already expressed optimism regarding the interest received. Among the alleged potential bidders are that of Marks & Spencer and Next, two British retail giants that are believed to have already submitted early interest...

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Business

Q1 of 2024 marked by series of job cuts

The first quarter of the year has outlined the tough reality of the current market, with last year’s challenging financial period leaving many companies with no option but to initiate strategic reviews. And, as part of this process, inevitably the question of jobs comes into play, with roles, departments and geographies coming under the...

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Business

The Body Shop: French subsidiary falls, UK CVA to be explored

Aurelius is continuing down the spiralling path of restructuring The Body Shop, and has now put the struggling beauty retailer’s French subsidiary into administration. Akin to similar moves in Germany, the UK, the US and Belgium, The Body Shop filed for bankruptcy with the Paris commercial court, as reported by various media, granting the...

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Business

The Body Shop files for bankruptcy in US and Canada, closing stores, shutting operations

Ailing British beauty retailer The Body Shop has officially closed its US operations, with Canadian stores also facing imminent closure. Reports indicate that the company has filed for bankruptcy, and out of its 105 Canadian stores, 33 are set to undergo liquidation proceedings, as reported by CNN. Once celebrated as a B Corp and a pioneer in...

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Business

Next and HMV’s Doug Putman among interested parties for The Body Shop

British retailer Next and the owner of music retailer HMV are reportedly among those eyeing a possible takeover of struggling cosmetics chain The Body Shop. Next is understood to have approached administrators to the retailer, FRP Advisory, regarding a possible sale of assets, according to sources for Sky News. Meanwhile, though HMV’s Doug...

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Business

The Body Shop to shutter 75 UK stores, almost 800 jobs to be lost

As part of its administration process, The Body Shop is now preparing to close 75 stores across the UK over the next six weeks, with a reported 489 jobs believed to be on the line. These redundancies will be combined with the 300 head office jobs that are to also be cut amid an ongoing restructuring, as reported by the Guardian which cited a...

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Retail

Body Shop suppliers left with 1 million dollars of unsold ingredients

As The Body Shop enters administration, its fair trade suppliers in Africa and the Amazon are grappling with the aftermath. Many find themselves burdened with significant stockpiles of ingredients, facing uncertainty about the prospect of selling them should stores be shuttered. Data unveiled by The Guardian indicates that several suppliers,...