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The Body Shop administrators have confirmed that an additional 75 stores will close, putting more than 400 jobs at risk, as it continues to restructure the retailer’s UK business.<\/p>\n
Administrators FRP said on Thursday the decision will result in 489 employees being made redundant over the next four to six weeks.<\/p>\n
It confirmed that 116 of The Body Shop stores across the UK will remain open, with the second wave of store closures providing “the best opportunity for long-term sustainable future for the iconic brand”.<\/p>\n
FRP joint administrator Tony Wright said: \u201cIn taking swift action to right-size The Body Shop UK store portfolio, we have stabilised the business and are providing the best opportunity for this iconic brand to have a long-term, sustainable future.<\/p>\n
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\n\u201cThe UK business continues to trade in administration, and we remain fully focused on exploring all options to take the business forward.\u201d<\/p>\n
The ethical beauty chain’s owner Aurelius called in administrators for the UK business earlier this month, which it said would \u201caccelerate restructuring\u201d of the company.<\/p>\n
As part of its restructuring plans, FRP has axed around 40% of the retailer’s head office roles to around 400 full-time staff and closed down the business’ Ambassador programme.<\/p>\n
It also announced the immediate closure of seven Body Shop stores, including London’s Oxford Street and Canary Wharf stores, two weeks ago.<\/p>\n
FRP said a \u201creduced store footprint will coincide with a renewed focus on the brand\u2019s products, online sales channels and wholesale strategies, bringing the brand in line with industry peers and supporting a return to financial stability\u201d.<\/p>\n
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\u201cThe UK business continues to trade in administration, and we remain fully focused on exploring all options to take the business forward.\u201d<\/p>\n
The ethical beauty chain’s owner Aurelius called in administrators for the UK business earlier this month, which it said would \u201caccelerate restructuring\u201d of the company.<\/p>\n
As part of its restructuring plans, FRP has axed around 40% of the retailer’s head office roles to around 400 full-time staff and closed down the business’ Ambassador programme.<\/p>\n
It also announced the immediate closure of seven Body Shop stores, including London’s Oxford Street and Canary Wharf stores, two weeks ago.<\/p>\n
FRP said a \u201creduced store footprint will coincide with a renewed focus on the brand\u2019s products, online sales channels and wholesale strategies, bringing the brand in line with industry peers and supporting a return to financial stability\u201d.<\/p>\n