Rob Wile is a breaking business news reporter for NBC News Digital.
The Body Shop is shutting down its U.S. operations after filing for bankruptcy. The U.K.-based chain filed for Chapter 7 liquidation in New York last week, according to a court filing. The filing means the company's U.S. operation will sell off certain assets to pay back its creditors. Earlier this month, the beauty store confirmed it had filed for restructuring in its home country, the United Kingdom, as well as in Canada.
were operational at the time of the bankruptcy filing. Launched in 1976 in Brighton, U.K., by entrepreneur and rights activist Anita Roddick , Body Shop was acquired for the equivalent of $1.3 billion in 2006 by beauty giant L'Oréal. It subsequently changed hands again before being acquired by a private equity group in December for approximately $250 million. But the company collapsed in February, with administrators citing mismanagement and a challenging retail landscape.
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