The Body Shop, a renowned cosmetics chain, is poised to close nearly half of its 198 shops across the UK after falling into administration last week.
Additionally, approximately 270 head office jobs will be cut as part of a significant restructuring effort.
Administrators for the business disclosed that seven of its shops will cease operations permanently on Tuesday, February 20, 2024. These include stores located at Surrey Quays London, Oxford Street London, Canary Wharf London, Cheapside London, Nuneaton, Ashford town centre Kent, and Queens Road Bristol.
In a statement issued by administrators from FRP Advisory, it was revealed that "After years of unprofitability and following a full evaluation of The Body Shop’s UK business, the joint administrators have concluded that the current store portfolio mix is no longer viable."
The move aims to revitalise The Body Shop's iconic brand and provide it with a stronger foundation to achieve its goal of becoming a modern, dynamic beauty brand capable of returning to profitability and competing effectively in the long term.