The joint administrators of The Body Shop have unveiled plans to close a number of UK stores as part of a restructuring of the high street chain.
Having assessed the business, joint administrators Tony Wright, Geoff Rowley, and Alastair Massey, concluded the current store portfolio mix is no longer viable and seven stores will close today (20 February), with additional closures to follow.
The seven stores closing immediately are: Surrey Quays (London), Oxford Street Bond Street (London), Canary Wharf (London), Cheapside (London), Nuneaton (Warwickshire), Ashford town centre (Kent) and Bristol Queens Road (Bristol).
The administrators said that at the conclusion of the restructuring more than half of The Body Shop’s 198 UK stores will remain open. The head count at the company’s head office is also expected to reduce by approximately 40%.
The administrators said: “This swift action will help re-energise The Body Shop’s iconic brand and provide it with the best platform to achieve its ambition to be a modern, dynamic beauty brand that is able to return to profitability and compete for the long term.”
