The Body Shop to Close US Stores After Filing for Bankruptcy

The Body Shop has ceased its U.S. operations and is closing dozens of stores in Canada as part of wider restructuring proceedings, following deepening financial struggles. The U.K.-based retailer has appointed insolvency administrators and plans to shutter 82 of its 198 stores in the U.K. The brand's Canadian subsidiary has commenced liquidation of 33 closing stores and has filed for a notice of intention pursuant to the country's Bankruptcy and Insolvency Act. The closures come after the brand was sold to Aurelius, a private equity firm, late last year in a deal valued at $261 million.