13 Feb, 2024 @ 16:30
1 min read

The Body Shop goes into administration with thousands of jobs at risk – but will its stores in Spain be affected?

THE Body Shop, that bastion of British body beauty, has announced it has entered into administration, casting a shadow of uncertainty over 2,000 jobs within its UK operations.

The chain, which was welcomed with open arms in Spain and Portugal and expanded rapidly, christened its 100th branch in Spain and Portugal in 2016.

Worldwide, the cosmetics colossus owns over 3,000 stores in 66 countries, and currently operates over 200 stores across the UK.

Thus the appointment of insolvency specialists FRP Advisory to oversee the administration process cast a dark shadow over a global operation of 10,000 employees.

However, there’s a silver lining for the brand, as the process is confined to the UK business, leaving international franchises, including those in Spain, unaffected.

FRP said they will ‘consider all options to find a way forward for the business’ after years of difficulties for the well-known brand as shoppers have shied away from the high street and shopping mall.

The insolvency specialists said: “The Body Shop remains guided by its ambition to be a modern, dynamic beauty brand, relevant to customers and able to compete for the long term.

With the announcement that the Body Shop has gone into administration in the UK, its stores in Spain will be unaffected

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“Creating a more nimble and financially stable UK business is an important step in achieving this.

“The Body Shop has faced an extended period of financial challenges under past owners, coinciding with a difficult trading environment for the wider retail sector.”

The cosmetics giant, which was founded in 1976 by Anita Roddick and her husband Gordon, rose to global stardom off the back of its ethically produced skincare and beauty products.

Its range of products were a smash hit with customers from varying markets and countries across the world, who hailed its pioneering role in ethical consumerism.

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But the signs were uncertain when the Body Shop was acquired by European private equity firm Aurelius on January 1 this year. 

The transaction valued the brand at £207 million and was finalised in November. 

Since Aurelius’s acquisition, most of its operations in mainland Europe and parts of Asia have been sold to an international family office. 

The focus remains on realigning the brand’s trajectory towards long-term competitiveness and relevance in the beauty industry, they signalled.

Walter Finch

Walter Finch, who comes from a background in video and photography, is keen on reporting on and investigating organised crime, corruption and abuse of power. He is fascinated by the nexus between politics, business and law-breaking, as well as other wider trends that affect society.
Born in London but having lived in six countries, he is well-travelled and worldly. He studied Philosophy at the University of Birmingham and earned his diploma in journalism from London's renowned News Associates during the Covid era.
He got his first break in the business working on the Foreign News desk of the Daily Mail's online arm, where he also helped out on the video desk.
He then decided to escape the confines of London and returned to Spain in 2022, having previously lived in Barcelona for many years.
He took up up a reporter role with the Olive Press Newspaper and today he is based in La Linea de la Concepcion at the heart of a global chokepoint and crucial maritime hub, where he edits the Olive Press Gibraltar edition.
He is also the deputy news editor across all editions of the newspaper.

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