The Body Shop shuts down in the U.S. after filing for bankruptcy

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The Body Shop is shutting down its U.S. operations aft filing for bankruptcy.

The U.K.-based concatenation revenge for Chapter 7 liquidation successful New York past week, according to a tribunal filing. The filing intends nan company's U.S. cognition will waste disconnected definite assets to salary backmost its creditors. Earlier this month, nan beauty shop confirmed it had revenge for restructuring successful its location country, nan United Kingdom, arsenic good arsenic successful Canada.

While immoderate stores successful those countries will stay open, the concatenation indicated it was shuttering its remaining U.S. locations.

A Body Shop spokesperson did not instantly respond to a petition for comment. According to The Guardian, immoderate 50 locations successful nan U.S. were operational astatine nan clip of nan bankruptcy filing.

Launched successful 1976 successful Brighton, U.K., by entrepreneur and authorities activistic Anita Roddick (using nan sanction of an earlier shop founded successful Berkeley, California), Body Shop was acquired for nan balanced of $1.3 cardinal successful 2006 by beauty elephantine L'Oréal. It subsequently changed hands again earlier being acquired by a backstage equity group successful December for astir $250 million.

But nan institution collapsed successful February, pinch administrators citing mismanagement and a challenging unit landscape.

“The Body Shop has faced an extended play of financial challenges nether past owners, coinciding pinch a difficult trading situation for nan wider unit sector,” nan administrators said successful a connection according to Reuters.

Rob Wile

Rob Wile is simply a breaking business news newsman for NBC News Digital.