The Body Shop, a British beauty and cosmetics retailer, said on Tuesday it had appointed insolvency administrators after years of financial difficulties. Having grown from one store in 1976 to hundreds of stores in and around the UK, the company is known as an early advocate of ethical business practices.
“We will now consider all options to find a way for the business to move forward,” said FRP group executives employed by The Body Shop.
A few weeks ago, the AureliusA European private equity firm specializing in buying and restructuring distressed companies took control of the business.
The chain will continue to operate, but news that it has entered bankruptcy administration could put hundreds of the company's jobs at risk.
The Body Shop was started in Brighton in 1976 by Anita Roddick and her husband Gordon.
The business grew rapidly over 30 years, with particular success on UK streets in the 1980s and 1990s.
With information from the Estadão Conteúdo
Image: Shutterstock
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