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(Alliance News) - The Body Shop International Ltd has hired administrators, putting thousands of jobs at the cosmetics chain at risk.
The Littlehampton, England-based cosmetics retailer which runs more than 200 shops across the UK, has appointed insolvency experts from FRP Advisory Group PLC to oversee the process.
FRP said the administrators will "consider all options to find a way forward for the business" after years of financial struggles and amid a challenging backdrop for shoppers.
The chain will continue to trade through stores and online during the administration process.
The retailer was founded in 1976 by Anita Roddick and her husband Gordon as one of the first companies to promote so-called ethical consumerism, focusing on ethically produced cosmetics and skincare products.
It comes only weeks after new owners, European private equity firm Aurelius, took control of the business, in a deal valued at GBP207 million.
By Henry Saker-Clark, PA Deputy Business Editor
Press Association: Finance
source: PA
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