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Canada  + Cross Border News  + Retail  |  March 1, 2024
The Body Shop is closing five stores in the Maritimes as it closes 33 stores across Canada altogether.
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By: Monte Stewart

Body Shop to Close 33 Canadian Stores

The Body Shop is closing 33 stores across Canada as the company goes through bankruptcy-protection proceedings.

The affected stores represent about one-third of the beauty product retailer’s 105-store Canadian footprint.

The Body Shop Canada announced Friday that it has commenced restructuring proceedings by filing a Notice of Intention to Make a Proposal pursuant to the Bankruptcy and Insolvency Act (NOI). The standard move is designed to prevent creditors from taking legal action against the beauty products retailer while it is restructuring.

Toronto-based Alvarez and Marsal has been appointed as the proposal trustee.

The Body Shop Canada filed the NOI after its U.K.-based parent made a similar British court filing. The chain’s U.S. business has ceased operations.

European asset manager Aurelius Group acquired the Body Shop from Natura & Co., in December 2023.

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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