The UK arm of ethical cosmetics chain The Body Shop has entered administration.
German private equity company Aurelius bought the business, which has more than 200 UK stores, in November last year for £207m.
Following disappointing trading over Christmas and new year, Aurelius confirmed it had appointed accounting firm FRP Advisory as administrator.
In a statement, FRP said: “Today, the directors of The Body Shop International Limited have appointed Tony Wright, Geoff Rowley, and Alastair Massey of business advisory firm FRP as joint administrators of the company, which operates The Body Shop’s UK business.
“Taking this approach provides the stability, flexibility and security to find the best means of securing the future of The Body Shop and revitalising this iconic British brand. The joint administrators will now consider all options to find a way forward for the business and will update creditors and employees in due course.
“The Body Shop remains guided by its ambition to be a modern, dynamic beauty brand, relevant to customers and able to compete for the long term. Creating a more nimble and financially stable UK business, is an important step in achieving this. The joint administrators will continue to trade the business in administration, ensuring customers will be able to continue to shop in store and online for their favourite products.”
