This famous cosmetics brand placed in receivership in France, the stores soon to be closed?

Bad news ! While this famous cosmetics brand had already announced the closure of half of its stores in the United Kingdom, BFMTV has just revealed that the French subsidiary has been placed in receivership. What does this mean for the brand’s employees in France?

It’s a massive blow that the French employees of this British cosmetics brand, very well known in France, have just received! While for several months, retailers in the clothing and cosmetics sector have been struggling to get their heads above water, this does not seem to be slowing down. Between the Covid-19 pandemic, the war in Ukraine, but also growing inflation and the decreasing purchasing power of the French, these sectors are particularly affected by the economic crisis.

If the Retail Int panel revealed that the fashion sector lost 3.5% in value in 2023 as well as one in five customers in four years, figures which are verified after the cascading closures of the stores of several major brands in France such as the brands Burton of London, San Marina, Kaporal, Pimkie, Naf Naf and IKKS. Unfortunately, the cosmetics sector is not doing better! While this brand had already announced the closure of nearly 198 stores in the United Kingdom last February, we did not know the fate of the French stores, it is a done deal!

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This cosmetics brand in turmoil, will the stores close in France?

The worst is to be feared for this sustainable cosmetics brand, well-known in France: The Body Shop. After its bankruptcy filing in the United Kingdom last February which led to the elimination of more than 270 positions at the head office as well as the announcement of its bankruptcy in Belgium a few weeks later, it is the turn of the French subsidiary of suffer from this and put its employees in a very complex situation fearing losing their jobs.

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A situation which follows the announcement of the placement in receivership of the French stores of the brand The Body Shop by the media BFM Business. Indeed, while we knew that the British cosmetics chain was having a lot of trouble getting its head back on track since its takeover by the Aurelius investment fund, it is now official, the company was placed in receivership this Thursday April 4, 2024 by the Paris Commercial Court. A request which would have been made according to media information almost two weeks ago by the company The Body Shop France and confirmed by its new manager during a conference with the group’s employees.

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The Body Shop: What can the 260 French employees expect?

The commercial court would have granted the French subsidiary a six-month observation period allowing them to put in place a recovery plan. If the group has until next fall to present it, we wonder what the stores and the 260 employees in France will become with this next recovery plan. Since the takeover of the brand by the Aurelius investment fund, employees had already highlighted an anxious and uncertain climate following the announcement of closures in England and Belgium.

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For several years, The Body Shop brand has been affected by an unprecedented economic crisis which has particularly impacted its financial situation. Although deliveries to France of the brand’s products had been completely interrupted for some time, it has been confirmed that they have partially resumed. A little less than twenty stores have been delivered or will be delivered in the coming days, far from the sixty stores in the country.

The people? A whole world! Passionate about the media, networks, series, films, and investigative investigations of all kinds, it was natural that Jessica turned to writing and that she takes…

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