This Massive Cosmetics Company Now Closes in The US

This massive cosmetics company now closes in the US as it ceases operations following global financial troubles, sources report.

The Body Shop announced that all of its locations in the United States had shut down as the US wing of the company had ceased operations.

March 1 marked the last day of The Body Shop’s operations in the US, according to a company press release.

This retailer had over 60 locations across the country in December 2023, according to ScrapeHero.

The shock closures were announced with the news that The Body Shop Canada had entered a restructuring process

Its Canadian wing shared that this branch of the company had filed a Notice of Intention to Make a Proposal with the Bankruptcy and Insolvency Act.

All of the country’s 105 stores have currently remained open but 33 are set to shut.

These 33 stores are undergoing liquidation sales and the Canadian website is no longer accepting online sales.

The restructuring process also means that the retailer has stopped accepting gift cards, will not sell new gift cards, or provide refunds, according to CBC News.

Locations of these closing stores include branches in Toronto, Ottawa, and Calgary.

The Body Shop was acquired by AURELIUS GROUP in December 2023 and Alvarez & Marsal Canada Inc. was appointed as the Proposal Trustee.

This comes as The Body Shop plunged into financial trouble in its home country, the United Kingdom, reports The-Sun.

The company collapsed into administration on February 13 and administrators deemed the brand’s current portfolio “no longer viable” after “years of unprofitability,” according to The Sun.

Dozens of UK stores were immediately shut and more locations are expected to go.

Around 270 head office jobs in the UK will be cut but The Body Shop did not reveal how many jobs had been lost in North America.

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Also Read: Clothing Retailer Now Makes Painful Decision To Close All Stores

Other Economy News Today

Market News Today - This Massive Cosmetics Company Now Closes in The US.
Market News Today – This Massive Cosmetics Company Now Closes in The US.

A massive restaurant now makes an unexpected closure after the company’s CEO hinted of 41 shutters in the future.

Customers at Outback Steakhouse are devastated to find out their local restaurant is closing down, reports The-Sun.

The parent company, Bloomin’ Brands Inc, is in the process of closing a total of 41 locations nationwide.

Customers at the Outback in Kentwood, Michigan, have been disappointed to learn their local eatery has closed down for good.

A note on the door thanks customers “for the years of support.”

All Outback signs have already been torn off the restaurant, which is situated next to a Dave’s and Busters.

Many regulars are sad that they will now have to drive a lot further to order a Bloomin’ onion and other menu favorites.

‘Nooo!” wrote one on Facebook, adding: “That was my go-to location.”

One described it as “My favorite steakhouse.”

“That’s another Outback that’s closing. That’s horrible,” commented a third.

Outback is currently in the process of closing many locations across the country.

Aside from Outback, the parent company is closing restaurants including Carrabba’s Italian Grill, Fleming’s Prime Steakhouse, Bonefish Grill, and Aussie Grill.

Bloomin’ Brands CEO David Deno told investors last week that the company had decided to close its “predominantly older, underperforming restaurants.”

He said most of these locations were “older assets with leases from the 90s and early 2000s.”

In some states, the closures have left customers with zero Outback Steakhouses left.

In Hawaii, all three Outback restaurants shut down February 18.

A worker at the Waipio location told KHON2 that staff had been given just “two days” notice of the closure.

The same week, Outback closed down its final location in New Hampshire.

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Also Read: This Massive Mall Retailer Is Now Closing In California

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Market News Today - This Massive Cosmetics Company Now Closes in The US.
Market News Today – This Massive Cosmetics Company Now Closes in The US.

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