Cosmetics giant The Body Shop has entered bankruptcy protection in the United Kingdom. The British chain has around 200 stores and 2,000 employees. Until the end of last year, it was owned by a Brazilian conglomerate Nature & Co, it was bought by German-born private equity fund Aurelius for £207 million (US$262 million). Natura acquired the company from L'Oréal in 2017.
A body shop Founded in 1976 by animal rights activist Anita Roddick. She started in a small shop in Brighton on the south coast of England. The company is famous for selling beauty products that aren't tested on animals — or Cruelty freeare called
Tough competition
In recent years, analysts say, the body shop has faced increasing competition from rivals that have been better able to attract younger consumers through online channels. According to McKinsey, e-commerce of beauty products will almost quadruple between 2015 and 2022, surpassing 20% of sales.
Aurelius then appointed FRP Consulting as the administrator of judicial recovery. FRP said it is considering all options to operate the business. That is the expectation Significant cost-cutting, which includes property and rent, will also lead to job cuts.
