Closed site, bankruptcies and loss of billions

Closed site bankruptcies and loss of billions

It has been difficult to get goods sent to Sweden and several of the company’s franchise stores have gone bankrupt.

The Body Shop has over 70 stores in Sweden, but that may soon end if the trend is not reversed.

DO NOT MISS: The municipality cheated the care staff – of 15,000 a week

Bankruptcy and store closures for the Body Shop

The company has closed all its operations in Belgium and 75 stores in its home country of Great Britain. The chain’s operations in the US and Canada have filed for bankruptcy.

Following the acquisition, 75 stores have been closed in the UK and staff from head office have been put on notice, the BBC reports. The chain’s operations in the US and Canada have both filed for bankruptcy.

Over 55? Here is the pension trap that can cost you 1000 notes

No goods for two months

In addition, the Swedish stores have not received goods to sell for over two months.

– It has been challenging and some products have been missing from the shelves, which has affected our numbers. Fortunately, we have knowledgeable staff in our stores who are good at guiding customers to other products, says the press manager Tanja Bruun to Swedish daily newspaper.

The homepage is down

The reason is the reconstruction that the company is undergoing in Great Britain, at the same time as the website was shut down.

Nyheter24 has written about it before.

Bankruptcy also in Sweden

The business has taken a lot of beating from the problems and five franchise companies that run Body Shop stores have filed for bankruptcy in Sweden.

According to the Swedish Companies Registration Office, Sweden is in the eye of the storm when it comes to bankruptcies. Every month new records are broken in the number of bankruptcies. The last time this many companies went bust in the first quarter was 1994.

The problems in Sweden have a lot to do with the international situation. The company is a small pawn in the power struggle between large cosmetic companies. The Body Shop was long owned by the mega-giant L’Oréal.

At the end of 2017, The Body Shop was bought from L’Oréal by the Brazilian brand Natura & Co. In November 2023, Natura sold the company on to the venture capital company Aurelius Group, but which does not seem to have succeeded in turning the company into a profitable business – at least not yet.

Read more about finances and bankruptcies:

The municipality cheated the care staff – of 15,000 a week

Sweden’s super rich: 33 men and 10 women are dollar billionaires

The Tax Agency deploys “special forces” against Swedish billionaires

All 7 experts: Five times the savings – with the risky share