The Body Shop to close almost half of UK stores
Nearly half of The Body Shop’s store portfolio has been earmarked for closure as part of a restructuring plan.
The administrators for The Body Shop will shut seven stores today (20 February), with additional closures to follow.
It is expected that at the conclusion of the restructuring more than half of The Body Shop’s 198 UK stores will remain open.
Nearly half of The Body Shop’s store portfolio has been earmarked for closure as part of a restructuring plan.
The administrators for The Body Shop will shut seven stores today (20 February), with additional closures to follow.
It is expected that at the conclusion of the restructuring more than half of The Body Shop’s 198 UK stores will remain open.
The decision follows “years of unprofitability” and a full evaluation of The Body Shop’s UK business, according to administrators at FRP Advisory.
“A reduced store footprint will coincide with a renewed focus on the brand’s products, online sales channels and wholesale strategies, bringing the brand in line with industry peers and supporting a return to financial stability,” the administrators said in a statement.
The Body Shop will also reduce its head office headcount by 40% to around 400 full-time employees.
The seven stores immediately impacted are:
Surrey Quays (London)
Oxford Street/Bond Street (London)
Canary Wharf (London)
Cheapside (London)
Nuneaton (Warwickshire)
Ashford Town Centre (Kent)
Bristol Queens Road (Bristol)
The landlords of those stores include British Land, Landsec and Canary Wharf Group, according to EG Radius.
See also: What Body Shop’s collapse means for landlords
Photo © Maureen McLean/Shutterstock
