The directors of The Body Shop in the United Kingdom, a nearly half-century-old cosmetics company known for its ethical commitments, announced that it has placed it under receivership, putting more than two thousand jobs at risk.
The company has appointed experts from FRP Advisory to supervise the management, which is a course approved in the United Kingdom in which financial experts are used to try to save parts of the company.
FRB Advisory said in a statement: “Today, the directors of The Body Shop International Limited have appointed Tony Wright, Geoff Rowley and Alastair Massey from the business consulting firm FRB as joint directors of the company that manages the business... +The Body Shop+ in the United Kingdom.
She pointed out that "following this approach provides stability, flexibility and security to find the best means to secure the future of The Body Shop and revitalize this famous British brand."
Officials will inform creditors and employees within the legal deadlines.
The British brand was sold at the end of 2023 by its Brazilian owner, Natura Cosmeticos, to the German investment fund Aurelius.
The value of the deal was much less than the one billion euros that the Brazilian company paid when it bought the group from the French giant “L’Oréal” in 2017.
The Body Shop was founded in 1976 in Brighton, in the south of the United Kingdom, and currently has stores in 89 markets around the world, including nearly 200 in the United Kingdom.
The Body Shop sells bath and body products made from natural ingredients, skin and hair care, perfumes and makeup.
The company's headquarters is located in London, and it employs about 7,000 people globally, including 2,200 in the United Kingdom.
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