Mon. Feb 26th, 2024
The Body Shop declares bankruptcy in UK, assures no job losses in our country

In a major blow to the British cosmetics industry, The Body Shop has announced its closure of operations in the United Kingdom. The news comes after FRP was appointed to manage the bankruptcy and restructuring of the UK operations, with the goal of revitalizing the iconic brand. However, it’s important to note that this move only affects UK activities and will have no impact on the company’s global network.

The Body Shop was founded in England in 1976 and quickly gained popularity for its sale of cruelty-free cosmetics and products. In December 2020, Brazilian Natura Cosmeticos sold the company to German investment fund Aurelius for 243 million euros. The chain is now active in 89 countries worldwide, having been originally purchased by Brazilians for 1 billion euros from French cosmetics giant L’Oreal in 2017.

The closure of The Body Shop’s UK operations adds to the challenges facing the British retail industry as a whole. On a separate note, there are exciting opportunities emerging in online commerce, with new programs launching to support Ukrainian trade. For those interested in wildlife and marine life, offers a unique opportunity to gain knowledge and experience through their programs. Ultimately, these developments highlight how technology continues to provide endless possibilities for people around the world.

By Editor

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