The Body Shop shuts down US operations, closes several stores in Canada

UK-based beauty model The Body Shop, which just lately filed for chapter, will stop its operation in the US and can shut down several stores in Canada.

High inflation in latest years has harm conventional retailers, significantly these like The Body Shop, that predominantly operated out of malls and had been aimed on the struggling center class, reported CNN.

The UK-based beauty firm just lately posted in a information launch: “The Body Shop Canada Limited (the ‘Company’ or ‘The Body Shop Canada’), the Canadian subsidiary of the worldwide magnificence model with 105 stores throughout the nation, introduced at present that it has commenced restructuring proceedings by submitting a Notice of Intention to Make a Proposal pursuant to the Bankruptcy and Insolvency Act (Canada) (the ‘NOI’).”

“Following the graduation of administration proceedings in the United Kingdom by its mother or father firm, The Body Shop Canada is commencing this NOI course of to acquire a keep of proceedings to offer further respiratory room whereas it evaluates its strategic alternate options and implements sure restructuring initiatives,” the assertion mentioned.

All of The Body Shop Canada’s 105 retailer areas are presently open for enterprise, nonetheless on-line gross sales by way of Canada’s ecommerce retailer will cease and sure stores famous beneath will shut in the close to time period.

The firm mentioned following its rapid graduation of the liquidation gross sales, 33 stores might be shut in Canada.

The Body Shop began its journey in 1976 in Brighton, England, with the opening of the primary retailer.

It was based by late environmentalist and human rights activist Anita Roddick.

The Body Shop International Limited (The Body Shop) was identified for its cruelty-free heritage and moral magnificence merchandise.

It was acquired from Natura & Co. by AURELIUS GROUP in December 2023.