Cosmetic and beauty retailer The Body Shop New Zealand has entered voluntary administration.
This decision follows a similar fate faced by its UK parent company, which went into administration in February last year. As per reports, the company is owing £276 million to suppliers, tax authorities, and landlords. Its international assets were largely sold, but the New Zealand business was excluded from the sale.
Administrators Daniel Stoneman and Neale Jackson from Calibre Partners have been appointed to manage the process.
“The Body Shop NZ’s UK parent company was placed into administration in February 2024. Following this, the assets of The Body Shop International were largely sold by the administrators in September 2024. This sale excluded The Body Shop NZ business,” Stoneman and Jackson said in a statement.
The administrators indicated that no buyer has emerged for The Body Shop NZ, which necessitates the appointment of administrators.
“A buyer for the business has not been found, leading to 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.”
The Body Shop New Zealand operates 16 stores located in Auckland, Tauranga, Hamilton, Napier, Palmerston North, Wellington, Nelson, and Christchurch, along with its online business.
The company also has approximately 70 permanent staff members.
Stoneman stated that all Body Shop stores in New Zealand will remain open “at this stage” during the administration process and will operate in “sale mode.”