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Body Shop to shutter roughly half of UK locations
(Sharecast News) - Cosmetics company The Body Shop will shutter roughly half of its UK storefronts and lower staffing numbers at its London head office by approximately 40%, leading to hundreds of job losses in the process. The Body Shop, which employs roughly 2,200 people in the UK, hopes the cuts will "help re-energise" the brand.
"It is expected that at the conclusion of the restructuring, more than half of The Body Shop's 198 UK stores will remain open," said administrator, FRP Advisory. "A reduced store footprint, will coincide with a renewed focus on the brand's products, online sales channels, and wholesale strategies."
The Body Shop's UK arm was placed into administration early in February, hot on the heels of its £207.0m acquisition by German private equity firm, Aurelius. It also follows the earlier sale of loss-making businesses in continental Europe and Asia.
Reporting by Iain Gilbert at Sharecast.com
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