Restructuring firm FRP have been appointed as administrators who say they would consider all options to find a way forward for the business.
They say creating “a more nimble and financially stable UK business” was an important step in it becoming a modern beauty brand “relevant to customers and able to compete for the long term”.
It is expected FRP will look to cut costs at Body Shop in order to compete with high street rival Lush.
Body Shop has more than 200 shops in the UK, including in Carmarthen town centre, Swansea’s Quadrant Shopping Centre and McArthur Glen Designer Outlet in Bridgend.
Up to 100 stores are understood to be at risk of closure.
In a statement, the administrators said: “Today, the directors of The Body Shop International Limited have appointed Tony Wright, Geoff Rowley, and Alastair Massey of business advisory firm FRP as Joint Administrators of the company, which operates The Body Shop’s UK business.”
“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 Joint Administrators will now consider all options to find a way forward for the business and will update creditors and employees in due course”.
The business will continue to trade in administration.
(Lead image: Body Shop)
