Image: DANIEL LEAL (AFP)
After the bankruptcies of the cosmetics retailer The Body Shop in Great Britain and Germany, the company’s future is also uncertain in Austria. “Until further notice, business operations in Austria will continue as before,” the company said in response to an APA request. The cosmetics retailer has twelve locations in Austria and is part of the British The Body Shop International Limited, which filed for bankruptcy a few days ago.
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The insolvency administrators of The Body Shop International Limited have declared that they want to continue to provide services as a franchisor to The Body Shop GmbH (based in Vienna). They are seeking new commercial terms on which an agreement has yet to be reached,” the company told APA.
The cosmetics retailer Body Shop has also filed for bankruptcy for its branch in Germany. According to the Federal Gazette, the chain had 66 branches and more than 350 employees in Germany in 2021. In addition to its own branches, the cosmetics chain also includes a few franchisees.
Body Shop had already filed for insolvency for its stores in its home country of Great Britain on Tuesday. The company operates more than 200 stores in the UK and employs 2,500 people. Insolvency administrators are to look for new owners for the stores, as the company announced on Tuesday.
Change of ownership
The company is owned by the German investment company Aurelius. Founded in 1976 by Anita Roddick and her husband Gordon, The Body Shop was one of the first companies to focus on ethically produced cosmetics and skin care products and to avoid animal testing in the production of their products.
Aurelius, based in Grünwald near Munich, only took over The Body Shop from the Brazilian company Natura in November 2023 for 207 million pounds (243 million euros). At that time, around 10,000 people worked for The Body Shop worldwide. The brand previously belonged to the French group L’Oréal.
Recently, Aurelius agreed to sell the company’s operations in most of mainland Europe and parts of Asia to an asset management company. For 2022, The Body Shop reported a pre-tax loss of £71 million on sales of £408 million. According to its own information, the company is represented in 89 countries worldwide.
- Read here: Austrians spend less money on cosmetics and personal care
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