Body Shop set to close almost half of its stores - seven will shut immediately
Beauty and skincare retailer 'The Body Shop' will close around half of its UK stores after going into administration last week, with some stores closing on Tuesday
The Body Shop will close almost half of its stores, with seven set to shut on Tuesday, the company's administrators have announced.
The store has roughly 200 outlets across the UK, with over 2,000 staff fearing for their jobs, and went into administration last week.
It will also cut around 270 head office jobs as part of a heavy restructuring.
It comes just weeks after private equity firm Aurelius took over the business after buying The Body Shop for £207 million in November.
A source close to Aurelius told ITV News that The Body Shop sits in a "far worse financial state" than it had anticipated when it acquired the brand.
The retailer was founded in 1976 by Anita Roddick and her husband Gordon as one of the first companies to promote so-called ethical consumerism, focusing on ethically produced cosmetics and skincare products.
The seven Body Shops set to close on Tuesday are:
- Surrey Quays (London)- Oxford Street Bond Street (London)- Canary Wharf (London)- Cheapside (London)- Nuneaton (Warwickshire)- Ashford Town Centre (Kent)- Bristol Queens Road (Bristol)
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