Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

The Body Shop shuts down U.S. operations, with plans to close dozens of U.K., Canada stores

by March 12, 2024
March 12, 2024
The Body Shop shuts down U.S. operations, with plans to close dozens of U.K., Canada stores

The Body Shop is shutting down its U.S. operations after filing for bankruptcy.

The U.K.-based chain filed for Chapter 7 liquidation in New York last week, according to a court filing. The filing means the company’s U.S. operation will sell off certain assets to pay back its creditors. Earlier this month, the beauty store confirmed it had filed for restructuring in its home country, the United Kingdom, as well as in Canada.

While some stores in those countries will remain open, the chain indicated it was shuttering its remaining U.S. locations.

A Body Shop spokesperson did not immediately respond to a request for comment. According to The Guardian, some 50 locations in the U.S. were operational at the time of the bankruptcy filing.

Launched in 1976 in Brighton, U.K., by entrepreneur and rights activist Anita Roddick (using the name of an earlier store founded in Berkeley, California), Body Shop was acquired for the equivalent of $1.3 billion in 2006 by beauty giant L’Oréal. It subsequently changed hands again before being acquired by a private equity group in December for approximately $250 million.

But the company collapsed in February, with administrators citing mismanagement and a challenging retail landscape.

“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 administrators said in a statement according to Reuters.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Airbnb bans indoor security cameras for properties listed on its platform
next post
House GOP leaders tear up Biden’s new $7.3T budget proposal

Related Posts

Mortgage rates are now at the highest level...

April 19, 2024

Why buying a house is still financially beneficial...

November 12, 2023

Boeing says it’s progressing on safety reforms and...

April 3, 2025

JetBlue to leave Kansas City, trim service from...

March 20, 2024

Why some major artists are suddenly canceling shows,...

June 2, 2024

Frustrated pharmacists could go on strike in rare...

October 29, 2023

Economic uncertainty reigns as the grip of inflation...

April 10, 2024

Trump Media jumps more than 9% after CEO...

April 25, 2024

United to pause pilot hiring, citing Boeing’s delivery...

March 9, 2024

American liquor exports hit record high in 2024,...

April 25, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Joe Rabil’s Undercut & Rally Pattern: From DROP to POP

    • RRG Alert Tech Vaults to ‘Leading’—Is XLK Signaling a New Rally?

    • Coelacanth Energy

    • Jeffrey Christian: Gold, Silver, PGMs — Short-term Prices and Key Drivers

    • Ericsson, Rogers Launch Canada’s First Underground 5G Network for Smart Mining

    • Crypto Market Recap: Bitcoin Price Stalls as Fed Holds Rates Steady, Circle Shares Jump

    Categories

    • Business (1,259)
    • Investing (2,583)
    • Politics (3,699)
    • Stocks (1,669)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved