A Dutch court today declared the bankruptcy of the Belgian branch of the British cosmetics chain The Body Shop. Dutch channel RTL Z reported this, and the coordinator's office confirms the news.
look. About fifty people lose their jobs after The Body Shop in Belgium declares bankruptcy
The Body Shop previously applied to operate in the UK, the company's home country. Bankruptcy proceedings have also begun in Germany. A consulting company was appointed to arrange the bankruptcy and restructuring of British activities with the aim of resuming them.
But now The Body Shop Belgium has collapsed too. The Belgian webstore has been out of use for some time, and many of the 16 Belgian stores have remained closed for two weeks.
A Dutch trustee must settle the bankruptcy case because the stores legally fall under the Dutch business unit The Body Shop Benelux, says RTL Z.
From success story to bankruptcy
The sustainable cosmetics chain was founded in 1976 by Anita Roddick. The activist gave The Body Shop a sustainable character, which was very unique at the time. The brand was a huge success, attracting up to 77 million customers annually worldwide at its peak. In 2006, the entrepreneur sold her success to the French company L'Oreal. However, this shift left customers questioning the brand's original story, causing its popularity to initially decline.
In 2017, the chain was sold at a profit to the Brazilian company Natura & Co. In recent years, the chain has been surpassed in terms of shopping experience and all brands in this sector are committed to sustainability. Therefore, The Body Shop lost its unique character.
A few months ago, the German company Aurelius acquired the cosmetics company Amal. However, this acquisition was short-lived, after which the brand eventually collapsed into the hands of the German investment fund Alma 24.
Read also. Founded by a British hippie who got very rich, and now it's collapsing: Why The Body Shop is closing Belgian stores (+)
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