Specifics about the timing of closings and liquidation for U.S. locations were not immediately provided.
The Body Shop, a once-popular British beauty and cosmetics retailer, has announced it has ceased its U.S. operations and will be closing dozens of locations in Canada amid deepening financial struggles. The Body Shop stopped operations in its U.S. branch beginning March 1, according to a company announcement. These closings arrive just weeks after The Body Shop appointed insolvency administrators set to consider "all options to find a way forward" after years of financial struggles.
Those closings are expected to occur over the next five weeks. In its March 1 announcement, The Body Shop Canada said it had filed for a notice of intention pursuant to the country's Bankruptcy and Insolvency Act "to obtain a stay" of its parent's administration proceedings in the U.K. — and "provide additional breathing room while it evaluates its strategic alternatives and implements certain restructuring initiatives.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Body Shop ceases US operations, plans to close dozens of stores in UK, CanadaThe Body Shop has ceased its U.S. operations and is closing dozens of locations in Canada amid deepening financial struggles for the British beauty and cosmetics chain
Read more »
The Body Shop shuts down all US operations, closes dozens of stores in CanadaThe 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.
Read more »
The Body Shop to Close U.S. Operations After Filing for BankruptcyThe U.K.-based beauty chain, The Body Shop, has filed for bankruptcy and will be closing its U.S. operations. The company will sell off assets to pay back creditors. The closure comes after the company filed for restructuring in the U.K. and Canada.
Read more »
Tongue-in-Chic: Selfridges Opens a Joke Shop at the Corner ShopItems at Selfridges Joke Shop start at 99 pence on the shop floor to extravagantly priced pieces that some may find offensive — or laughable.
Read more »
'The Last Repair Shop' wins Oscar: Doc on LAUSD instrument shop takes home prize'The Last Repair Shop' is a documentary focusing on LAUSD's Music Repair Shop, and it just took home the Oscar for Best Short-Form Documentary.
Read more »
The Body Shop Files for Bankruptcy: Where Did It All Go Wrong?Founded by Dame Anita Roddick, the ethically-branded store as seen a downturn in footfall, so what's next for the sustainable skincare brand?
Read more »