The Body Shop’s Denmark arm has filed for bankruptcy, with 15 stores set to close.
Approximately 90 roles will reportedly be impacted, according to Danish newspaper E24.
Anders Hoffmann Køningsfeldt, a lawyer at Danish legal services firm Bech-Bruun, has been appointed as administrator.
Tine Mohr Jensen, a Senior Retail Manager for The Body Shop in Denmark, said staff were given the news about the bankruptcy yesterday.
In a LinkedIn post, she wrote that her journey with the brand had “come to an end”.
“It's tough to say goodbye to something that has been such a big part of my life for over 12 years,” Mohr Jensen added.
“The Body Shop will always be cherished. I hope from the bottom of my heart The Body Shop will stand strong again all over the world.”
The news of The Body Shop Denmark’s bankruptcy comes after the embattled beauty brand’s UK division collapsed into administration on 13 February.
FRP Advisory were appointed as administrations, and have been implementing restructuring plans which could see nearly half of the business’ 198 UK stores shuttered.
Seven of the brand’s stores have already been closed across London, Kent and Bristol, including its Oxford Street flagship.
Tony Wright, Geoff Rowley and Alastair Massey, joint administrators for The Body Shop, said the store closures have been made as the current portfolio mix is “no longer viable”.
“A reduced store footprint will coincide with a renewed focus on the brand’s products, online sales channels and wholesale strategies, bringing the brand in line with industry peers and supporting a return to financial stability,” they added in a statement at the time.
The Body Shop’s former CEO David Boynton has also recently weighed in on the embattled beauty brand's current predicament.
Boynton said the administration of the business’ UK division is not a story of a “failing brand”.
Instead, in a LinkedIn post, he called the process a “legal and opportunistic” way to get tax payers, landlords and other small suppliers to fund a restructuring plan.
He said this method would allow the owners to “exit with a huge upside in the future”.
Fashion retailer Next is reportedly in the running to acquire the distressed beauty business.
The business is said to have approached FRP about a potential deal to purchase assets of the Aurelius Group-owned beauty brand.
Cosmetics Business has contacted The Body Shop for comment.
