The Body Shop Enters Voluntary Administration

The Body Shop, a skincare brand, has entered into voluntary administration.

The Body Shop NZ's parent business in the UK was placed into administration in February last year, owing £276 million (NZ$600,337,260) to creditors such as landlords, tax authorities, and suppliers.

The administrators sold most of The Body Shop International's assets in September, although this did not include The Body Shop New Zealand.

Calibre Partners' financial advisors, Daniel Stoneman and Neale Jackson, were appointed Voluntary Administrators of The Body Shop New Zealand Limited. 

Stoneman stated that a buyer for the business had not been identified, prompting the appointment of Administrators.

"We are working closely with the management team to develop a strategy to sell all stock and begin to wind down the business." 

Stoneman stated that all Body Shop outlets in New Zealand would remain open throughout the administration and on sale.

The Body Shop NZ operates 16 stores in Auckland, Tauranga, Hamilton, Napier, Palmerston North, Wellington, Nelson, and Christchurch, employing roughly 70 permanent people and an online operation.

The Body Shop New Zealand is a 100% New Zealand-owned firm, with its first store opening in 1989 on Lambton Quay in Wellington. At its peak, there were 28 stores throughout the country.