High street hit with another blow as Body Shop to close half of stores with job losses

Date:

Share:


The Body Shop are to cut almost half of their stores after the retail chain entered into administration last week.

The retail chain will cut 270 head office jobs as part of a restructuring programme, the group also employs 1,500 workers across the UK.

Hundreds of workers are expected to be made redundant due to the shop closures, on Tuesday seven shops have now closed for good.

Administrators from FRP Advisory said in a statement, “After years of unprofitability and following a full evaluation of The Body Shop’s UK business, the joint administrators have concluded that the current store portfolio mix is no longer viable.

“This swift action will help re-energise The Body Shop’s iconic brand and provide it with the best platform to achieve its ambition to be a modern, dynamic beauty brand that is able to return to profitability and compete for the long term.”



Source link

━ more like this

Ubisoft may have prematurely revealed FX’s TV adaptation of Far Cry

A post on Ubisoft's news page reportedly announced that FX is working on a TV show adaptation of the Far Cry franchise. The...

Police probe as two separate women attacked by migrants staying in hotels – London Business News | Londonlovesbusiness.com

An asylum seeker staying a taxpayer hotel in London has been accused of strangling a 20-year-old woman. A 26-year-old asylum seeker who is staying...

The Space Invaders movie is apparently still happening

It's been a few years since we last heard anything about that is reportedly in the works, but a new report suggests...

DJI repurposed its drones’ obstacle detection tech for robot vacuums

DJI's obstacle avoidance system could be just as useful on land as it is in the air. DJI, known for its dominance in...
spot_img