The American subsidiary of the British multinational chain, The Body Shop, specialized in the retail trade of cosmetics and perfumes, reported that it closed its operations in the United States after declaring bankruptcy.
In a statement issued at the beginning of March, The Body Shop also announced that it will liquidate sales in 33 of the 105 establishments it has in Canada, arguing that it is "a restructuring procedure." "All of The Body Shop Canada's 105 store locations are currently open for business, however, online sales via Canada's ecommerce store will stop, and certain stores noted below will close in the near term," said the company.
The Body Shop was founded in 1976 in the United Kingdom and has since begun to expand into other territories. In total, the retailer operates in more than 80 countries around the world, having both physical points of sale and an e-commerce division.
In 2006, L'Oréal became its owner thanks to a deal valued at more than $1 billion. Eleven years later, the French company transferred it to Natura, of Brazilian origin, for a very similar amount. At the end of last year, the company Aurelius Group acquired The Body Shop for just over $260 million.
