The Body Shop to close 75 stores and cut over 400 jobs
Some 116 stores will continue trading following these closures, however
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The Body Shop will close 75 more stores across the UK in the coming weeks, with 489 jobs set to be lost, according to administrators at FRP Advisory.
The firm said it would “support all impacted staff with claims to the Redundancy Payments Service”.
Some 116 stores will continue trading following these closures, however.
FRP Advisory’s Tony Wright said: “In taking swift action to right-size the Body Shop UK store portfolio, we have stabilised the business and are providing the best opportunity for this iconic brand to have a long-term, sustainable future.
“The UK business continues to trade in administration, and we remain fully focused on exploring all options to take the business forward.”
Last month, administrators at FRP Advisory announced that they expected to close nearly half of The Body Shop’s 198 stores at the end of its restructuring plans in a bid to secure the future of the retailer.
After years of unprofitability and following a full evaluation of The Body Shop’s UK business, joint administrators Geoff Rowley and Alastair Massey concluded that the current store portfolio mix is no longer viable.
The seven stores immediately impacted were the London stores in Surrey Quays, Oxford Street Bond Street, Canary Wharf and Cheapside, as well as shops in Nuneaton in Warwickshire, Ashford Town Centre in Kent, and Bristol Queens Road in Bristol.
