The Body Shop, a UK-based cosmetics company, files for bankruptcy and closes US stores due to high inflation and a shift to online sales.
The Body Shop, a UK-based cosmetics company known for its natural, sustainable, ethical, and cruelty-free products, has filed for bankruptcy and closed all its US-based stores, with plans to shutter dozens of locations in Canada. High inflation and the shift to online sales have impacted traditional retailers like The Body Shop, which had a significant presence in shopping malls. The company, founded in 1976, has changed hands several times, most recently being sold to asset management group Aurelius for $266 million in 2022.
March 10, 2024
26 Articles