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WorldThe Body Shop files for bankruptcy, shuts down all US-based stores

The Body Shop files for bankruptcy, shuts down all US-based stores

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Agencies

The UK-based cosmetics company, The Body Shop, shut down all of its US-based operations and will soon be closing dozens of Canadian store locations after filing for bankruptcy, CNN reported.

Earlier this month, The Body Shop, in an official release, announced that its US subsidiary was no longer operational, effective March 1. It further added that 33 of its 105 stores in Canada will begin liquidation sales immediately and “online sales via Canada's e-commerce store will stop,” but that all Canadian locations will remain open for the time being, reported CNN.  According to reports, high inflation in recent years has affected traditional retailers, particularly those like The Body Shop, which predominantly operated out of malls and were aimed at the middle class.

The UK-based cosmetics company, founded in 1976 by human rights activist and environmental campaigner Anita Roddick, is known for products it markets as natural, sustainable, ethical and cruelty-free. It was one of the first companies to prohibit testing on animals for many of its products, according to CNN.

 

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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