Photos by Stacie Joy
The Body Shop announced that its U.S. operations would shut down immediately. According to published reports, it filed for Chapter 7 insolvency on Saturday, under which assets are sold to clear debts.
The outpost on Broadway at Astor Place was said to have closed on Sunday...
Some background via The Associated Press:
The Body Shop, founded by Anita Roddick and her husband in 1976, is often hailed as an early champion of ethical practices in business. The retailer of soaps, creams and makeup has promoted fair-trading practices and products that were not tested on animals.The brand became hugely popular in the 1980s ... and grew to have stores in some 80 countries, including many operated through franchises.
(A show of hands who bought the bath pearls collection as a gift sometime between 1987 and 1993.)
In 2006, Roddick sold the business to L’Oreal ... and the brand changed hands several times in recent years, first to Brazilian cosmetics business Natura and then to Aurelius, a private equity firm specializing in buying and turning around troubled companies.
