Household name store in Milton Keynes city centre calls in administrators

One of the city centre’s oldest-established stores has spoken out about how it has called in administrators following "financial challenges”.

Yesterday (Tuesday), the directors of The Body Shop International Limited appointed Tony Wright, Geoff Rowley, and Alastair Massey of business advisory firm FRP as Joint Administrators of the company, which operates The Body Shop’s UK business.

The Body Shop store in Midsummer Arcade at centre:mk was one of the first to move in to the new centre after it opened in 1979 and has been a household name ever since.

Founded in 1976 in Brighton by Anita Roddick, it became known for its ethical stance in refusing to stock products tested on animals and also its sourcing of ingredients from natural components.

Now the administrators will try to find a way to secure the company’s future. One option would be to close some of the UK stores.

A spokesperson said: “The Joint Administrators will continue to trade the business in administration, ensuring customers will be able to continue to shop in store and online for their favourite products.

“Taking this approach provides the stability, flexibility and security to find the best means of securing the future of The Body Shop and revitalizing this iconic British brand. The Joint Administrators will now consider all options to find a way forward for the business and will update creditors and employees in due course.”

They added: “The Body Shop remains guided by its ambition to be a modern, dynamic beauty brand, relevant to customers and able to compete for the long term. Creating a more nimble and financially stable UK business, is an important step in achieving this.

“The Body Shop has faced an extended period of financial challenges under past owners, coinciding with a difficult trading environment for the wider retail sector. Having taken swift action in the last month, including closing down The Body Shop At Home and selling its business across most of Europe and in parts of Asia, focusing on the UK business is the next important step in The Body Shop’s restructuring.”