Dark clouds are gathering over Belgium The Body Shop Branches: Following bankruptcy proceedings in Germany and the UK, the chain currently also has (some?) its online and offline stores in Belgium remaining closed. There are rumors that a receiver has been appointed, but no one seems to have a clear idea of what is actually going on.
in the dark
Bankruptcy proceedings have also begun in Belgium, and employees have been told that a receiver will soon be appointed, British newspaper The Guardian reported. In addition, branches in Austria, Ireland and Luxembourg are expected to begin filing for bankruptcy soon.
However, there is still no official confirmation or clarity, and this news only raises more questions. In fact, Belgium and the Netherlands are part of the French subsidiary, which announced before the weekend that it was itself completely in the dark, with all communication with the UK parent company cut off. was.
overrated
Persistent rumors suggest that Alma24 (which has taken over the majority of The Body Shop’s European operations) is reportedly reluctant to acquire the French business, due to the country’s This is reportedly due to strict labor laws. Although the legal system is different, subsidiaries in the Low Countries under the same umbrella remain shrouded in darkness. But it’s not a good sign that the Belgian, Dutch and French webshops in Belgium have been taken offline for planned improvements. Even in stores like the one in Antwerp’s Meir, customers faced closed doors.
Meanwhile, it has emerged that investor Aurelius, which bought The Body Shop for 240 million euros in November, significantly overestimated the purchase price. Managing director Peter Wood, who wanted to restore the cosmetics chain to its former glory, has now stepped down. The Body Shop is said to be in a much worse financial position than previously expected, with Aurelius itself becoming one of the chain’s biggest creditors. The line of creditors also includes Fairtrade producers, who have prepared food worth almost €1 billion that may never be delivered again.
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Dark clouds are gathering over The Body Shop branch in Belgium. Following bankruptcy proceedings in Germany and the UK, the chain also remains closed (some?) of its online and offline stores in Belgium. There are rumors that a receiver has been appointed, but no one seems to have a clear idea of what is actually going on.