Macclesfield survives first round of The Body Shop closures following administration

By Alex Greensmith

20th Feb 2024 | Local News

No stores in the north have been announced to close so far. Macclesfield is safe, for now. (Image - Macclesfield Nub News)
No stores in the north have been announced to close so far. Macclesfield is safe, for now. (Image - Macclesfield Nub News)

Seven The Body Shop stores have had their closures announced today.

But Macclesfield's Mill Street store has survived this initial wave.

Last week, administrators were appointed for The Body Shop.

Today, a statement was issued to the media, which can be read as follows:

Figures for how many they current employ in Macclesfield, were unavailable. But it appears their jobs are safe for now. (Image - Macclesfield Nub News)

"Having assessed the business, the Joint Administrators of The Body Shop, Tony Wright, Geoff Rowley, and Alastair Massey, today announce a restructuring plan to secure the future of The Body Shop."

"After years of unprofitability and following a full evaluation of The Body Shop's UK business, the Joint Administrators have concluded that the current store portfolio mix is no longer viable. As an immediate step, seven stores will close today, with additional closures to follow. It is expected that at the conclusion of the restructuring, more than half of The Body Shop's 198 UK stores will remain open.  

"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.

"Following the earlier sale of loss-making businesses in much of mainland Europe and parts of Asia, and to support a simplified business, The Body Shop will also restructure roles in its Head Office to align with this forward-looking strategy and more nimble, financially viable model.

"The Head Office headcount is expected to reduce by approximately 40%, to a future headcount of over 400 full time employees. The Joint Administrators have also decided The Body Shop Ambassador programme will close. 

"Stabilising and strengthening the central core will also support The Body Shop's international strategy, with Global Head Franchise Partners and wholesale partners in Asia, Middle East and Europe a cornerstone of future success.

"This swift action will help re-energise The Body Shop's iconic brand and provide it with the best platform to achieve its ambition to be a modern, dynamic beauty brand that is able to return to profitability and compete for the long term."

The seven stores immediately impacted are: Surrey Quays (London), Oxford Street Bond Street (London), Canary Wharf (London), Cheapside (London), Nuneaton (Warwickshire), Ashford Town Centre (Kent), Bristol Queens Road (Bristol).

Macclesfield's The Body Shop store is located at 50-54 Mill Street.

     

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