The Body Shop is closing several stores

A significant number of its 198 stores in the UK will be closed, while the company said in a statement that “more than half” of the units will remain open. The London-based company is also taking additional measures, such as layoffs, sending about 40 percent of the workforce.

According to the initial findings of the bankruptcy proceedings, the company’s current product range is not viable and growth cannot be achieved with it. At the same time, the liquidators see hope for business life in the brand, provided that the product range is reconsidered and renewed.

The Body Shop has 10 stores in Hungary, and they are also present online through their web store. There is currently no news on whether their operations in Hungary would be affected by the closures or the bankruptcy proceedings.

At the same time as the news of the closure of The Body Shop, Pepco also announced that they will completely withdraw from the Austrian market, closing their 73 stores in Austria.