The British cosmetics, skin care, and perfume company, The Body Shop, has announced the closure of 75 of its UK stores, resulting in the loss of hundreds of jobs, in a decision that has sent shockwaves through the retail industry. This announcement comes as the company undergoes a restructuring, with FRP Advisory leading the process.
The stores will be closed over the coming weeks, significantly reducing the company's physical presence in the UK. In addition to the store closures, there will be redundancies which will result in many people losing their jobs, adding to the economic pressures already felt by many in the retail sector.
In this context, FRP Advisory's role is to manage the restructuring effectively. They are committed to assist all affected employees through the Redundancy Payments Service. For employees, this is a time of uncertainty and upheaval as they deal with the impact of these changes on their livelihoods.
Reasons for Body Shop Store Closures and Redundancies
For many businesses, cost-cutting has become an essential survival strategy, and The Body Shop is no exception. Regrettably, the brand has had to make the difficult decision to close stores and reduce its workforce to achieve financial stability. These measures are in response to changing consumer behaviours and the competitive landscape of the beauty industry.
The 75 store closures were not a decision taken lightly. The decision to reduce jobs was made due to a combination of factors, including poor sales performance during the crucial holiday season and an examination of the long-term viability of certain store locations. Each store's contribution to the company's overall health was thoroughly assessed during the decision-making process.
Between 750 and 800 people are expected to be affected by the redundancies. This comes at a time when the UK is facing economic challenges. Employees are facing an increasingly volatile job market, while also dealing with the emotional toll of leaving a company they may have served for years.
The Future of The Body Shop
Despite the closures, The Body Shop will maintain a presence in the UK marketplace, with 116 stores remaining open. This decision indicates a strategic shift towards sustaining operations in locations that continue to perform well and possibly focusing more on digital sales channels.
For The Body Shop, the administration process is a critical stage. Among other things, this includes exploring the potential sale of parts of the business and finding operational efficiencies.
In taking swift action to right-size The Body Shop UK store portfolio, we have stabilized the business. Exploring all options to take the business forward.
Here are all the shops closing in the UK :
- Aylesbury
- Banbury
- Barnstaple
- Basildon
- Battersea
- Bedford
- Beverley
- Bexleyheath
- Blackburn
- Blackpool
- Bournemouth Commercial Rd
- Bolton
- Brixton
- Broughton Park
- Bury
- Camberley
- Carlisle
- Carmarthen
- Chippenham
- Cirencester
- Croydon
- Didcot
- Durham
- East Kilbride
- Edinburgh Gyle Centre
- Edinburgh Princess Mall
- Epsom
- Fareham
- Farnborough
- Glasgow Braehead
- Glasgow Fort
- Glasgow Silverburn
- Glasgow Station
- Grimsby
- Halifax
- Harlow
- Hastings
- Hempstead Valley
- High Wycombe
- Huddersfield
- Hull
- Ilford
- Ipswich
- Isle of Wight
- Islington
- Kendal
- Kings Lynn
- Leeds White Rose
- Lewisham Centre
- Lichfield
- Loughborough
- Luton
- Macclesfield
- Middlesbrough
- Morpeth
- Newton Abbot
- Northampton
- Oldham
- Perth
- Peterborough Queensgate
- Portsmouth
- Regent Street
- Salisbury
- Stafford
- Stanstead Airside
- Stratford Upon Avon
- Swansea
- Telford
- Thanet
- Trowbridge
- Wakefield Trinity Walk
- Walthamstow
- Wigan
- Woking
- Wolverhampton