It is not known what the impact of the latest moves will be on Body Shop stores in Australia.
An exterior general view of a closed branch of the cosmetic retail store The Body Shop, on February 21, 2024 in London, England.The Body Shop has shut down all of its US-based operations and will be closing dozens of Canadian store locations as it files for bankruptcy.earlier this month, the UK-based cosmetics company announced that its US subsidiary is no longer operational, effective March 1.
High inflation in recent years has hurt traditional retailers, particularly those like The Body Shop that predominantly operated out of malls and were aimed at the struggling middle class. Since its inception, The Body Shop has changed hands several times. It was purchased by cosmetics giant L'Oréal in 2006 for more than a billion dollars, before being sold to Brazilian company Natura in 2017 for another billion dollars.