The Denmark branch of The Body Shop has declared bankruptcy, leading to the closure of 15 stores. Around 90 positions are expected to be affected, as reported by the Danish newspaper E24. Anders Hoffmann Køningsfeldt from Bech-Bruun has been designated as the administrator.
Following the UK division’s entry into administration on February 13th, The Body Shop Denmark has also faced bankruptcy. FRP Advisory has been appointed as administrators for both cases and is working on restructuring plans that may result in the closure of almost half of the UK business’s 198 stores. Seven stores, including the flagship on Oxford Street, have already been shut down in London, Kent, and Bristol.
According to a spokesperson from the curator’s office, the Belgian arm of The Body Shop has been declared bankrupt by the District Court of Central Netherlands. The bankruptcy affects approximately twenty branches of the company.
In recent reports from last month, it was indicated that over 60 stores and the German headquarters, which has approximately 400 employees, were expected to shut down. Dr. Biner Bahr, an insolvency expert from the White & Case law firm, has been tasked with managing the affairs of the German business.
