The Body Shop Canada has announced it’s commencing restructuring proceedings with close to a third of its stores slated to ‘close in the short term’, including 15 in Ontario.
The Body Shop Canada has announced it’s commencing restructuring proceedings with close to a third of its stores slated to ‘close in the short term’, including 15 in Ontario.
The Body Shop Canada announced Friday (March 1) that it is filing restructuring proceedings under the Bankruptcy and Insolvency Act.
The Canadian subsidiary of the global beauty brand has 105 stores across the country.
Following similar proceedings by its parent company in the United Kingdom, The Body Shop Canada, in a news release, said “it is commencing this … process to obtain a stay of proceedings to provide additional breathing room while it evaluates its strategic alternatives and implements certain restructuring initiatives.”
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All of The Body Shop Canada’s 105 store locations, stated the news release, are currently open for business, however, online sales via its Canadian e-commerce store have stopped.
The company listed 33 stores in which it is “immediately commencing liquidation sales”, including these 15 in Ontario.
Bayview Village (Toronto)
Queen Street East (Toronto)
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Queen Street East (Toronto)
Dufferin Mall (Toronto)
The Shops at Don Mills (Toronto)
Toronto Pearson Term. 1 (Toronto)
Rideau Centre (Ottawa)
Carlingwood Mall (Ottawa)
Cataraqui Town Centre (Kingston)
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Lynden Park Mall (Brantford)
Stone Road Mall (Guelph)
Lambton Mall (Sarnia)
Place d’Orleans (Orleans)
Lansdowne Place (Peterborough)
Timmins Square (Timmins)
The company also announced in its release that effective today (March 1) its U.S. stores have “ceased operations.”
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A once pioneering beauty brand known for its cruelty-free heritage and ethical beauty products, the company was acquired from Natura & Co. by Aurelius Group this past December.
Alvarez & Marsal Canada has been appointed as the proposal trustee, and additional information related to the proceedings are available here.
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