Cosmetics company The Body Shop is bankrupt

This article was last updated on November 6, 2024

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Cosmetics company The Body Shop is bankrupt

Cosmetics store chain The Body Shop is bankrupt. The shops will remain open for the time being. Possibilities for a restart will be examined in the near future, the company reports. There are still 24 stores open in the Netherlands.

Like many companies, the cosmetics chain was struggling with high costs and faced stiff competition from stores such as Lush and Rituals. The company’s online store has not been working for months. The company previously stated that this was due to planned updates.

Takeover

Earlier this year, the Belgian branch of the company was declared bankrupt. The Body Shop in the Netherlands then thought that there would be no bankruptcy in the Netherlands.

The chain also filed for bankruptcy in its country of origin, the United Kingdom, earlier this year. Here the company found a new investor. The BBC reported it also announced that the Australian and North American branches of the company will be acquired.

The retail chain was founded in 1976 by Anita Roddick. She was one of the first to sell cosmetic products that were not tested on animals.

In 2006, the company was sold to cosmetics chain L’Oreal for 950 million euros. Ten years later, the French group wanted to get rid of The Body Shop due to increasing competition. In 2017 followed a sale to Brazilian cosmetics company Natura.