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.
While some stores in those countries will remain open, the chain indicated it was shuttering its remaining U.S. locations. A Body Shop spokesperson did not immediately respond to a request for comment. According to The Guardian, some 50 locations in the U.S. were operational at the time of the bankruptcy filing. Launched in 1976 in Brighton, U.K., by entrepreneur and rights activist Anita Roddick (using the name of an earlier store founded in Berkeley, California), Body Shop was acquired for the equivalent of $1.3 billion in 2006 by beauty giant L'Oréa
Source: News Formal (newsformal.com)
The Body Shop Bankruptcy U.S. Operations Liquidation Restructuring Closure Assets Creditors Beauty Chain
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Body Shop ceases US operations, plans to close dozens of stores in UK, CanadaThe Body Shop has ceased its U.S. operations and is closing dozens of locations in Canada amid deepening financial struggles for the British beauty and cosmetics chain
Source: ABC - 🏆 471. / 51 Read more »
Source: FOXLA - 🏆 445. / 53 Read more »
Source: wwd - 🏆 24. / 68 Read more »
Source: Luxuo - 🏆 571. / 51 Read more »
Source: mercnews - 🏆 88. / 68 Read more »
Source: NBCNews - 🏆 10. / 86 Read more »