The Body Shop have administrators in UK : Half of the Stores will close

[arista]

Tragic another big store all over the UK
going under.

The thing is
most supermarkets sell body shop-type
health food and pills.


[The Body Shop's UK business is set to
appoint administrators this week,
in a move likely to result in
shop closures and job losses.
The owner of the company,
set up in 1976 by the late Dame Anita Roddick,
is expected to appoint experts
to significantly restructure the retailer.

The Body Shop was bought by private
equity firm Aurelius just weeks ago.

It is understood that trading over
the key Christmas period and into
January was not as strong as hoped.

It also emerged that the Body Shop had
insufficient working capital.
The retailer's British business has more than
200 shops in the UK as well as
its headquarters in London.
The Body Shop also employs a
significant number of staff.

Restructuring expert FRP Advisory
is likely to be appointed as the
administrator in the coming days.]

https://ichef.bbci.co.uk/news/976/cpsprodpb/8323/production/_132617533_gettyimages-1235139460.jpg.webp


https://www.bbc.co.uk/news/business-68261784

[Cherie]

Used to love the Body Shop can't say I have used it for years though

[arista]

Used to love the Body Shop can't say I have used it for years though


Yes their prices are
above the Supermarkets

[DemRed]

Going into administration doesn't mean they are selling out or gone bust, it likely means they have a lot of debt and not enough working capital and so stood down and handed the business to another party. The asset strippers involved will likely make some changes and even close some of the shops but I doubt BS will be gone off our high streets.

[Ammi]

…are/were they still owned by L’Oreal, I’m not sure…?…L’Oreal aren’t known for their careful sourcing and fair trade standards so I’m not sure if Body Shop as a concept and brand have been ‘betrayed’ over the years…but obviously they provided jobs and incomes so that’s an important consideration also…it’s sad to see another iconic retail giant fall to the gods of administration….

[arista]

are/were they still owned by L’Oreal, I’m not sure

No Ammi they Dumped them

equity firm Aurelius just weeks ago]

Into Admin today
and worse some of the USA Backers
in charge, are thinking of Body Shop online
no need for shops and staff etc.


Sad Report on SkyNewsHD Business

[Crimson Dynamo]

Go woke, bandwaggon with no knowledge

GO BROKE - good news

https://pbs.twimg.com/media/GGOFj7lX0AANp83?format=jpg&name=large

[arista]

Body Shop UK jobs and stores
at risk in race to save firm

[The Body Shop's UK business has
entered administration,
potentially putting up to 2,000 jobs at risk.

The retailer's shops will remain open as usual
while efforts are made to try to save the UK firm.
Restructuring firm FRP,
which has been appointed as the administrator,
said it would now consider all options
to find a way forward for the business.

The Body Shop was started by the
late Dame Anita Roddick in 1976 from
a single shop in Brighton.
It grew into a global brand,
pioneering ethical trading and a stance against
testing beauty products on animals.
FRP Advisory said creating
"a more nimble and financially stable UK business"
was an important step in it becoming
a modern beauty brand
"relevant to customers and able
to compete for the long term".

The administrators are expected to
try to substantially cut costs,
including on property and rents
which could lead to job cuts.]

https://www.bbc.co.uk/news/business-68273424

[arista]

When she Started
she was filling bottles up in her first store
revolutionary in business.

But now she is dead,
no one has kept her true Vision.

[bots]

She sold out her vision for a lot of money to L’Oreal. Her vision was to make cash, and she did

[arista]

She sold out her vision for a lot of money to L’Oreal. Her vision was to make cash, and she did


And they found out
it was a Loss to them,
and now the Equity Firm Aurelius
own it, and do not like the losses.

[arista]

The Current Owners
want to sell it.

Massive unknown debts are in there.

Shops to stay open
while they decide.......................

[arista]

Half of the Shops to Close.

Admin has just announced
so many job losses, soon.

SkyNewsHD Business 4:30PM show Live

[arista]

Going into administration doesn't mean they are selling out or gone bust, it likely means they have a lot of debt and not enough working capital and so stood down and handed the business to another party. The asset strippers involved will likely make some changes and even close some of the shops but I doubt BS will be gone off our high streets.



Yes so much Debt
they have said today
Half of the Stores will close.


SkyNewsHD
BBCnewsHD

[Ammi]

…a few closed yesterday, didn’t they…so as the announcement was being made public, they were literally closing and many were jobless…it’s like watching your life in slow motion, just awful…administration/the process really is a corporate evil that’s underestimated in its impact on lives…these are the stores that closed yesterday apparently…

Surrey Quays, London
Oxford Street, London
Canary Wharf, London
Cheapside, London
Nuneaton,
Ashford town centre, Kent
Queens Road, Bristol

[Ammi]

…end of an era, Body Shop has been such a part of the UK high street…

[arista]

…a few closed yesterday, didn’t they…so as the announcement was being made public, they were literally closing and many were jobless…it’s like watching your life in slow motion, just awful…administration/the process really is a corporate evil that’s underestimated in its impact on lives…these are the stores that closed yesterday apparently…

Surrey Quays, London
Oxford Street, London
Canary Wharf, London
Cheapside, London
Nuneaton,
Ashford town centre, Kent
Queens Road, Bristol

They should have kept that one

[Ammi]

…it would be interesting to have some images of the Oxford Street of the eighties and nineties and the Oxford Street of today and how many ‘retail giants’ of their time, no longer exist…Top Shop and HMV were two huge ones that dominated the street…

[Crimson Dynamo]

…it would be interesting to have some images of the oxford street of the eighties and nineties and the oxford street of today and how many ‘retail giants’ of their time, no longer exist…top shop and hmv were two huge ones that dominated the street…

apart from Selfidges id imagine none of them

[arista]

…it would be interesting to have some images of the Oxford Street of the eighties and nineties and the Oxford Street of today and how many ‘retail giants’ of their time, no longer exist…Top Shop and HMV were two huge ones that dominated the street…


Yes but HMV are now back

Thanks to the Canada Owner

Even bands can perform in there.

[UserSince2005]

mummy dont know daddy's getting hot at the body shop.

I wonder if this is related?

[arista]

https://static.standard.co.uk/2023/11/24/07/1e883a0c3e41a82821b8f9c28b069ee8Y29udGVudHNlYXJjaG FwaSwxNzAwODQzNjcx-2.74583347.jpg?crop=8:5,smart&quality=75&auto=webp&width=960


The store that was USA Type Candy
moved out and HMV Oxford Street Central
returned to its original store,
Ammi.

[Vanessa]

https://static.standard.co.uk/2023/11/24/07/1e883a0c3e41a82821b8f9c28b069ee8Y29udGVudHNlYXJjaG FwaSwxNzAwODQzNjcx-2.74583347.jpg?crop=8:5,smart&quality=75&auto=webp&width=960




The store that was USA Type Candy
moved out and HMV Oxford Street Central
returned to its original store,
Ammi.

That's good. Those shops are a front to crime. They shouldn't be allowed to be open.

[arista]

That's good. Those shops are a front to crime. They shouldn't be allowed to be open.


Yes good the
USA Candy store left
that one big building.

[Ammi]

The Body Shop administrators investigate claims of missing millions…

Administrators of The Body Shop are investigating claims that millions of pounds were taken out of the business before its collapse, The Telegraph can reveal.

FRP, which took over the British arm last month after it fell into administration, is currently examining claims of unaccounted for funds predating the business’s sale to private equity group Aurelius. The investigation remains at an early stage.

Senior MPs are now calling for a deeper review of The Body Shop’s failure amid swathes of job losses and store closures.

Scrutiny about the circumstances of the business’s collapse will be heightened by figures seen by The Telegraph showing the company’s UK retail arm posted profits of £19m on revenues of £163m in the run-up to its collapse.

Those figures account for The Body Shop’s 198 sites across the UK in 2023 but do not cover costs from the company’s global operations.

According to the administrators, The Body Shop entity placed into administration last month included costs from the firm’s operations abroad, which led to it posting a £60m loss overall in 2022.

However, the financial health of the day-to-day operations is likely to prompt further questions as to the circumstances surrounding the company’s administration.

A separate row between The Body Shop’s former owners, Brazilian cosmetics giant Natura, and buyer Aurelius has also broken out over payments promised to around 30 former employees.

Natura said it was “surprised and concerned” by claims that Aurelius has failed to make awards worth £3m, which were promised as part of the £207m sale agreement reached in November.

An email sent by Natura last week and seen by The Telegraph said: “This is particularly concerning when Aurelius expressly agreed that The Body Shop would make these payments through its payroll, and Natura funded the cost through an agreed reduction in the purchase price of the business.

“While we continue to pursue the matter with Aurelius, we have decided to make all cash value payments owed to The Body Shop employees (and former employees).”

A source close to Aurelius said the payments were related to high-ranking employees and are to be treated like any other financial obligation by the administrator.

Aurelius put The Body Shop’s UK operations into administration just three months after striking the £207m deal.

It is understood that after completing the acquisition in January, Aurelius discovered that The Body Shop’s finances were allegedly in a worse state than expected, which sparked internal discussions over the firm’s due diligence.

Aurelius emerged as the retailer’s top creditor before its insolvency and is understood to be in pole position to reclaim The Body Shop’s assets, shorn of debt, if no bidder materialises. It will not be responsible for redundancy payments.

Wide-ranging concerns over the acquisition have fuelled political scrutiny, particularly as the taxpayer prepares to foot a multimillion-pound bill to cover redundancy costs.


…full article…

https://uk.yahoo.com/finance/news/body-shop-administrators-investigate-claims-170000609.html

[arista]

[Investigating claims that millions of pounds
were taken out of the business before its collapse,
The Telegraph can reveal.]


Yes Criminal
they knew they were going to go under


More Stores are closing another 75