The Body Shop is set to close approximately half of its UK stores and cut 40% of head office jobs as administrators announced a plan to restructure the business in the country.
The Body Shop’s administrators FRP Advisory said it will close seven of the retailer’s stores today with more closures expected in the coming weeks as “the current store portfolio mix is no longer viable” for the business.
The seven stores closing today are: Surrey Quays; Oxford Street Bond Street; Canary Wharf; Cheapside; Nuneaton; Ashford Town Centre; and Bristol Queens Road.
FRP said more than half of The Body Shop’s 198 stores will remain open following the restructuring of the business and will allow the brand to focus on other distribution channels including online and wholesale.
The Body Shop will be cutting 40% of jobs in its head office to bring its workforce down to 400 full-time employees and shutting its Ambassador Programme “to support a simplified business”.
FRP said: “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.”
This comes after Retail Week reported that The Body Shop’s businesses across continental Europe are in danger of collapse, leaving the fate of thousands of jobs and hundreds of stores in multiple countries in the balance.
Over 2,000 employees in continental Europe are at risk as ownership in markets including France, Portugal, Spain, Denmark and Sweden remains unclear.
No comments yet