The Body Shop has confirmed FRP Advisory as administrators of the business as it looks to “accelerate restructuring of the UK business”.
The struggling beauty retailer has appointed Tony Wright, Geoff Rowley, and Alastair Massey of business advisory firm FRP as joint administrators for The Body Shop’s UK business.
FRP said it hopes to create “a more nimble and financially stable UK business” for The Body Shop as it “remains guided by its ambition to be a modern, dynamic beauty brand, relevant to customers and able to compete for the long term.”
The administration process includes the retailer’s UK business only and will not affect its global head franchise partners.
The news comes after The Body Shop was bought by German private equity firm Aurelius from Brazillian beauty giant Natura six weeks before Christmas in a £207m deal.
Since then, the private equity firm has taken drastic steps to turn around the struggling brand, including selling The Body Shop at Home business and offloading most of its business in mainland Europe and parts of Asia to focus on its core UK market.
The iconic beauty retailer was founded in 1976 by Dame Anita Roddick, a pioneer in promoting ethical beauty.
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