The Body Shop, a UK-based cosmetics company founded in 1976 by human rights activist Anita Roddick, has ceased its US operations and is set to close 33 out of 105 Canadian stores after filing for bankruptcy.
The closure of its US subsidiary was officially announced on March 1, with 33 Canadian locations starting liquidation sales. Online sales in Canada will cease but all the stores will remain open for now.
The company, known for its natural, sustainable, and cruelty-free products, faced challenges due to high inflation, affecting traditional retailers, particularly those in malls targeting the middle class.
Previously owned by L’Oreal and later sold to Natura in 2017, The Body Shop struggled in recent years, experiencing a 13.5% year-over-year decline in 2022. In late 2023, it was sold to asset management group Aurelius for approximately USD 266 million.
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