Subject: BCY
THE BODY SHOP CANADA LIMITED COMMENCES RESTRUCTURING PROCEEDINGS
TORONTO, March 1, 2024 /CNW/ - The Body Shop Canada Limited (the "Company" or "The Body Shop Canada"), the Canadian subsidiary of the global beauty brand with 105 stores across the country, announced today that it has commenced restructuring proceedings by filing a Notice of Intention to Make a Proposal pursuant to the Bankruptcy and Insolvency Act (Canada) (the "NOI").
Following the commencement of administration proceedings in the United Kingdom by its parent company, The Body Shop Canada is commencing this NOI process to obtain a stay of proceedings to provide additional breathing room while it evaluates its strategic alternatives and implements certain restructuring initiatives.
All of The Body Shop Canada's 105 store locations are currently open for business, however online sales via Canada's ecommerce store will stop and certain stores noted below will close in the near term.
As part of the NOI process, The Body Shop Canada is immediately commencing liquidation sales at the following 33 closing stores:
Bayview Village (Toronto) | Lawson Heights (Saskatoon) | Rideau Centre (Ottawa) |
Carlingwood Mall (Ottawa) | Lloyd Mall (Lloydminster) | Semiahmoo (White Rock) |
Cataraqui Town Centre (Kingston) | Londonderry Mall (Edmonton) | Shoppers Mall (Brandon) |
Champlain Place (Dieppe) | Lynden Park Mall (Brantford) | Stone Road Mall (Guelph) |
Corner Brook Plaza (Corner Brook) | Mayflower Mall (Sydney) | Sunridge Mall (Calgary) |
Cornwall Centre (Regina) | McAllister Place (Saint John) | The Centre (Saskatoon) |
Dufferin Mall (Toronto) | Medicine Hat Mall (Medicine Hat) | The Shops at Don Mills (Toronto) |
Fairview Park Mall (Kitchener) | Midtown Plaza (Saskatoon) | Timmins Square (Timmins) |
Hillside Shopping Centre (Victoria) | Park Place (Lethbridge) | Toronto Pearson Term. 1 (Toronto) |
Lambton Mall (Sarnia) | Place d'Orleans (Orleans) | Truro Mall (Truro) |
Lansdowne Place (Peterborough) | Queen Street East (Toronto) | Village Green (Vernon) |
Alvarez & Marsal Canada Inc. was appointed as the Proposal Trustee. Additional information related to the NOI proceedings are available here: www.alvarezandmarsal.com/TheBodyShop.
Also effective today, March 1, 2024, The Body Shop US Limited has ceased operations.
The Body Shop International Limited (The Body Shop), a once pioneering beauty brand known for its cruelty free heritage and ethical beauty products was acquired from Natura & Co. by AURELIUS GROUP in December 2023.
SOURCE The Body Shop Canada Ltd.
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