The Physique Store Chapter Information: Your favorite magnificence model has filed for chapter! |

The Physique Store, a famend cosmetics firm based mostly within the UK however a model which has a world presence, has made the choice to shut down its operations in the USA and is about to close down quite a few retailer areas throughout Canada after declaring chapter, as reported by CNN.
In an official assertion launched earlier this month, The Physique Store introduced the cessation of its US subsidiary, efficient March 1.Moreover, it disclosed that 33 out of its 105 shops in Canada will begin liquidation gross sales instantly. The corporate additionally said that on-line gross sales by way of its Canadian e-commerce platform will stop, though all Canadian areas will stay operational in the intervening time, in response to CNN.
The difficult financial setting, marked by excessive inflation in recent times, has posed important hurdles for conventional retailers like The Physique Store, notably these located in malls and catering to middle-class customers.

Established in 1976 by Anita Roddick, a outstanding human rights activist and environmental advocate, The Physique Store has gained recognition for its line of merchandise promoted as pure, sustainable, moral, and cruelty-free. Notably, it was among the many pioneers in implementing a ban on animal testing for a lot of of its choices.
In 2019, The Physique Store earned certification as a “B Corp,” reflecting its dedication to transparency and environmental duty. By 2023, the corporate had expanded its presence to greater than 2,500 stores throughout 80 international locations, with merchandise obtainable for buy on-line in over 60 markets.
Regardless of its preliminary success, The Physique Store has undergone a number of possession adjustments over time. Acquired by cosmetics conglomerate L’Oreal in 2006 for over a billion {dollars}, it was later offered to Brazilian firm Natura in 2017 for the same quantity. Nonetheless, the model has encountered challenges in current occasions.

In keeping with experiences, Natura acknowledged in early 2023 that The Physique Store was going through important challenges, experiencing a year-over-year gross sales decline of 13.5% in 2022. The corporate attributed this decline to a difficult enterprise setting and a return to normalcy in client conduct following the pandemic.
In late 2023, The Physique Store was offered to asset administration group Aurelius for roughly $266 million, signaling a big shift in possession, as reported by CNN.