Displaying items by tag: store closures

The Body Shop, acquired by the German restructuring firm Aurelius, faces uncertainty as employees fear job losses and store closures. Aurelius, known for breaking up companies like Lloyds Pharmacy, also has a history of retaining some businesses, such as Footasylum. While Aurelius's intentions remain unclear, its track record suggests possible restructuring rather than total dissolution. The Body Shop's situation is precarious, with the closure of its home-selling arm and refusal to pay long-term bonuses to employees. The company's loss-making European business was recently separated and sold to Alma24, linked to Aurelius. This move, along with the UK arm's administration, is seen as a cost-cutting strategy, potentially leading to the closure of up to half of its 200 UK stores. Administration allows handling redundancy payments and lease obligations without burdening Aurelius. Despite the potential downsizing, the UK business is considered crucial for supporting the Body Shop's international network, indicating a likely survival in a restructured form.