The Body Shop:  British cosmetics giant ‘The Body Shop’ has closed all of its U.S. operations and will soon close dozens of stores in Canada, the company has filed for bankruptcy, CNN reported. Earlier this month, The Body Shop informed that its US subsidiary would cease operations from March 1.

The company said 33 of its 105 stores in Canada will be beginning liquidation sales on, and online sales through the Canadian online store will cease, but all Canadian stores will remain open for now, according to a CNN report.

As per the report, high inflation in recent years has hit traditional retailers, especially brands like The Body Shop, which are mainly based in shopping malls and target the struggling middle class.

The Body Shop was founded by human rights and environmentalist Anita Roddick in the UK in 1976. The company was among the first companies that ban animal testing for many of its products.

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In 2019, it was given a “B Corp” certification, a designation that recognises companies that meet certain standards of transparency and environmental awareness.

The Body Shop had expanded its store network expanded to more than 2,500 retail locations in more than 80 countries by 2023. Its products can be purchased online in over 60 markets.

The Body Shop was bought by cosmetics giant L’Oréal for a billion dollars in 2006 and then sold to Brazilian company Natura for another billion dollars in 2017, according to a CNN report.

In recent years, the brand has been experiencing a crisis. In a report published in early 2023, Natura noted that The Body Shop was facing headwinds, with sales down 13.5% year-over-year in 2022, a year the company said was not going to be easy for the brand.

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