The UK business of The Body Shop has appointed administrators to expedite the restructuring process. The retailer, owned by private equity firm Aurelius, appointed administrators at FRP Advisory on Tuesday. It said the move was the best way of securing the brand’s future.
Aurelius agreed to buy The Body Shop late last year in a deal that valued the retailer at £207 million ($262 million).
Aurelius, which also owns sportswear chain Footasylum and Lloyds Pharmacy, bought The Body Shop from Brazilian cosmetics conglomerate Natura & Co., which had owned the brand since buying it from L’Oreal in 2017.
The Body Shop was founded in 1976 by animal rights activist Anita Roddick, beginning with a small store in Brighton, on England’s south coast. It became popular for selling cosmetics and hygiene products that were not tested on animals.
Note: This article has been updated to rectify a few errors
First Published: Feb 13, 2024 7:39 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha elections 2024: 28% of candidates contesting in fourth phase are 'crorepatis'
May 9, 2024 4:29 PM
Free poha-jalebi to movie ticket discounts: How cities struggling with 'urban apathy' are luring voters to polling booths
May 9, 2024 3:17 PM