In February 2024, The Body Shop’s UK business entered administration, potentially putting the jobs of up to 2,000 employees at risk. Despite the uncertainty, the retailer’s stores will remain open as administrators work to save the UK firm. FRP, the appointed restructuring firm, is exploring all options to find a way forward for the business.
The Body Shop was founded in Brighton in 1976 by Dame Anita Roddick and has since become a global brand known for its ethical trading practices and opposition to animal testing of beauty products. FRP aims to create a more financially stable UK business that can remain relevant and competitive long-term.
As administrators work to cut costs, there is a possibility that job cuts may be necessary. However, it is unlikely that The Body Shop name will disappear from Britain’s High Streets after nearly 50 years. The British business has over 200 shops, a few franchises, and its headquarters in London.
In November 2021, private equity firm Aurelius purchased The Body Shop for £207m. Poor sales during the Christmas trading period led them to place the brand into administration. There are hopes that the brand will be restructured to better compete with brands like Lush, which have been popular with younger shoppers.
Since its founding by Dame Anita in 2006, The Body Shop has changed hands three times before being sold again in November 2021 by Aurelius. Unfortunately, this latest sale did not prevent financial difficulties for the company.