The Physique Store, the beauty retailer that embraces cruelty-free and all-natural merchandise, has been saved from administration.
Between years of austerity, a worldwide pandemic and a price of dwelling disaster, it hasn’t been the perfect time lately to be a high-street retailer.
In any case, as one Metro.co.uk columnist requested in 2013: ‘Is the loss of life of the excessive avenue inevitable??’
Apparently not.
British tycoon Mike Jatania’s funding agency Auréa introduced the completion of the acquisition on Saturday, all however securing a future for 1,300 staff.
He and Charles Denton, the previous chief govt of magnificence model Molton Brown, will head up the Physique’s Store’s management group.
There aren’t any rapid plans for any of the 113 remaining Physique Store shops to shut anytime quickly.
What Physique Store shops are nonetheless open?
When the wonder model went into administration earlier this yr, directors axed dozens of retailers, leaving solely 113 left.
Right here’s the complete checklist of retailer areas that shouldn’t be closing anytime quickly:
Aberdeen
Ashford Outlet
Basingstoke
Bathtub
Belfast Victoria Sq.
Birmingham Bullring
Bluewater
Bracknell Lexicon
Bradford Broadway
Braintree Outlet
Brent Cross
Bridgend Outlet
Brighton
Bristol Cabot Circus
Broadgate
Bromley
Bury St Edmonds
Cannock Outlet
Cardiff St Davids
Castleford Outlet
Canterbury Whitefriars
Chelmsford
Cheltenham
Chesire Oaks Outlet
Chester Foregate Road
Chesterfield
Chichester
Clarks Village Outlet
Colchester
Coventry
Crawley County Mall
Cribbs Causeway
Dalton Park Outlet
Derby Intu
Doncaster Lakeside Outlet
Dudley
Dundee
Dunfermline
Ealing
East Midlands Outlet
Eastbourne
Edinburgh St James
Enfield
Fleetwood Outlet
Foyleside
Glasgow St. Enoch
Gloucester
Gretna Outlet
Guildford Excessive Road
Gunwharf Outlet
Harrogate
Harrow
Hatfield
Hereford Business St
Hounslow Treaty Centre
Icon at O2 Outlet
Inverness
Kingston-Upon-Thames
Lancaster
Leamington Spa
Leeds Briggate
Leicester Excessive Cross
Lincoln Waterside
Liverpool One
Livingston Outlet
Llandudno
London Bridge
Lowry Outlet
Maidstone
Manchester Arndale Centre
Manchester Royal Ex
Meadowhall Excessive St
Metro Centre Platinum Mall
Milton Keynes
Newcastle Eldon Sq
Nottingham Bridlesmith Gate
Oxford Road Soho
Oxford Westgate
Poole
Preston
Studying
Romford
Rushden Lakes
Shrewsbury
Skipton
Solihull
Southampton West Quay
Southend
Spalding Outlet
St. Albans
Staines
Stockport
Stratford Metropolis Westfield
Sunderland
Sutton
Swindon Outlet
Talke Hanley Outlet
Taunton
Thurrock
Truro
Tunbridge Wells Royal Victoria Place
Uxbridge Market Sq.
Warrington
Watford
Wembley Outlet
White Metropolis Westfield
Whiteley Village
Wimbledon
Winchester
Windsor
Worcester
Worthing
York Coppergate Stroll
York Depot
Auréa, which is main a consortium of patrons within the deal, stated it could ‘steer the Physique Store’s revival and reclaim its international management within the moral magnificence sector it pioneered’ in its largest transaction up to now.
The Physique Store was based in 1976 by Anita Roddick, a enterprise exec who was much less about button-up life and extra about campaigns for rain forests, girls’s rights and in opposition to animal testing.
Lower than 10 years later, The Physique Store was listed on the inventory alternate at £80,000,000, changing into a go-to for vibrant physique butter tubs and vegan perfumes.
‘I’d slightly promote bloody human rights than a bubble bathtub,’ Roddick stated in a 1996 interview. ‘Perhaps I shouldn’t be working this firm.’
French cosmetics big L’Oreal purchased The Physique Store in 2009 for £652million – Roddick died solely a yr later. Her franchise was then offered to Natura of Brazil for £880,000,000 greater than 10 years later, which then offered it to Aurelius.
However Aurelius admitted it was unable to maintain The Physique Store afloat in Britain amid fierce competitors from different pure magnificence manufacturers like Lush and spiralling prices.
Directors stated a whole lot of jobs may very well be misplaced and dozens of retailers closed. On the time, The Physique Store employed about 1,500 retailer staff.
FRP Advisory shut 85 shops and reduce 85 store jobs and 270 workplace roles.
Jatania, co-founder of Aurea, stated: ‘With the Physique Store, we’ve acquired a very iconic model with extremely engaged customers in over 70 markets world wide.
‘We plan to focus relentlessly on exceeding their expectations by investing in product innovation and seamless experiences throughout all the channels the place prospects store whereas paying homage to the model’s moral and activist positioning.’
Charles Denton, chief govt of the Physique Store, stated: ‘We imagine there’s a sustainable future forward and dealing carefully with the administration group we goal to revive the Physique Store’s distinctive, values-driven, unbiased spirit.’
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