Body Shop: concerns grow for future of Wigan staff after chain goes into administration
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The retailer, which runs more than 200 shops across the UK – including in the Grand Arcade – has appointed insolvency experts from FRP Advisory to oversee the process.
FRP said the administrators will "consider all options to find a way forward for the business" after years of financial struggles and amid a challenging backdrop for shoppers.
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Hide AdThe chain will continue to trade through stores and online during the administration process.
Administrators stressed that the process will only affect its UK business, with international franchises not impacted.
FRP said: "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.
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Hide Ad"The Body Shop has faced an extended period of financial challenges under past owners, coinciding with a difficult trading environment for the wider retail sector."
The retailer was founded in 1976 by Anita Roddick and her husband Gordon as one of the first companies to promote so-called ethical consumerism, focusing on ethically produced cosmetics and skincare products.
It comes only weeks after new owners, European private equity firm Aurelius, took control of the business.
Aurelius, which specialises in buying and turning around troubled firms, secured a £207 million deal in November to buy The Body Shop from Brazilian cosmetics giant Natura & Co.
It only took control of operations officially on January 1.