The Body Shop’s new owner has said there are no immediate plans to shut stores but it will nevertheless be reviewing operational performance across its 113 UK outlets.
The high street chain was bought out of administration by specialist investment firm Auréa Group. Auréa founder Mike Jatania will become Body Shop executive chair, while former Molton Brown chief executive Charles Denton has been appointed chief executive.
In a statement, Auréa said: “As with any business, particularly one that has ended up in administration, there is a need to manage costs but we believe that the stores are an important part of the brand’s connection to its customers.
“We will naturally monitor the footprint of the estate to make sure that we are optimising performance through that connection.”
Administrators from FRP Advisory were appointed in February and swiftly moved to reduce costs across the chain by closing 85 shops.
This followed the £207m acquisition by private equity firm Aurelius last year.
Denton said: “We recognise that revitalising the business will require bold action and a consumer-centric, commercially agile mindset. We believe there’s a sustainable future ahead and working closely with the management team we aim to restore the Body Shop’s unique, values-driven independent spirit.”
Photo © Amer Ghazzal/Shutterstock
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