Following the fall into administration of its UK business, The Body Shop’s German stores are now beginning to close down after also taking the plunge, a process that will reportedly soon follow in Belgium.
The closures are being carried out by restructuring specialist Aurelius, which snapped up the cosmetics retailer in an acquisition deal last year and later put the company’s main UK business into administration last week.
According to previous media reports, however, Aurelius had sold a portion of The Body Shop’s European operations to Alma24 last month, which was also reportedly behind the take over of the company’s Japanese and Irish businesses.
Meanwhile, in Germany, staff told the Guardian, which initially reported the news, that all 60 stores and the head office in the region were likely to close, with an insolvency specialist from law firm White & Case believed to have been appointed to handle the case.
In Belgium, where the chain employs around 50 people over 16 stores, workers were believed to have been told that administrators were also to be appointed.
Other sources for the media outlet further stated that in Ireland, Austria and Luxembourg, a similar process was also expected to unfold shortly.
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