#UK, #TheBodyShop, #Administration, #JobLoss, #UKLayoff, #BritainJobLoss; #CosmeticChain
IBNS-CMEDIA: Cosmetic chain The Body Shop has collapsed into administration in the UK, leaving more than 2,200 jobs at risk.
The chain collapsed just less than three months after it was taken over by a private equity company.
German company Aurelius had bought the cosmetic chain for £207m in November.
Aurelius confirmed it had appointed the accounting firm FRP Advisory as the administrator, raising concerns over the future of the business founded by the late environmental and human rights campaigner Anita Roddick in 1976, reported The Guardian.
In a statement, the administrators said: “Today, the directors of The Body Shop International Limited have appointed Tony Wright, Geoff Rowley, and Alastair Massey of business advisory firm FRP as Joint Administrators of the company, which operates The Body Shop’s UK business.”
The Body Shop remained a popular brand in the 1980s and 1990s but faced challenge and competition from newcomers in recent times.
The Body Shop started its journey in 1976 in Brighton, England with the opening of the first store.
It was founded by late environmentalist and human rights activist Anita Roddick.
