Investment fund Auréa is taking over The Body Shop’s UK, Australian and North American operations. There will be no relaunch in Belgium, while the future of the Dutch branch remains uncertain.
Financial problems
The 113 remaining shops of The Body Shop in the UK can remain open and the some 1,300 employees will keep their jobs. Investment fund Auréa, founded by British cosmetics entrepreneur Mike Jatania and former Merrill Lynch top executive Paul Raphael, is acquiring the retailer, including its operations in Australia and North America. The acquisition had been previously announced and was officially confirmed on Saturday.
The Body Shop was forced to close its books in February after long-running financial difficulties. In the UK, hundreds of jobs were lost following the closure of 85 shops. The Belgian branch went bankrupt at the end of February: all shops are closed and there is no hope of a takeover. In the Netherlands, the shops are still open, but the webshop is not.
