The Body Shop, a well-known cosmetics company, is reportedly in dire need of financial assistance and may soon fail.
The retail firm, which operates a shop in Wigan’s town centre’s Grand Arcade, is to name administrators.
The company was founded by Dame Anita Roddick, who sold it to L’Oréal in 2006 for £652 million before selling it to Natura for an additional £880 million.
In November of last year, the shop was subsequently acquired by Aurelius, a private equity group.
It is acknowledged that trading did not perform as well as expected throughout the crucial Christmas season and into January.
The retailer’s British division employs a sizable workforce and operates more than 200 stores in the UK.
Restructuring specialist FRP Advisory is reportedly expected to be named the administrator in the next few days.
It is anticipated that the brand would not completely leave the high street and that its expenses, such as those related to real estate and rent, will be minimized in favor of expanding its online presence.
Leave a Reply