The Body Shop Canada is closing nearly one-third of its stores as the company seeks creditor protection.
Company officials announced Friday that they had filed a “notice of intention” (NOI) under the Bankruptcy and Insolvency Act.
A news release said the company hopes to “obtain a stay of proceedings to provide additional breathing room while it evaluates its strategic alternatives and implements certain restructuring initiatives.”
Liquidation sales have begun at 33 of the company’s 105 Canadian locations and online sales will stop.
Here in the Maritimes, the stores affected include locations in Saint John, Dieppe, Sydney, and Truro.
The global beauty brand also announced Friday that it had shuttered all of its operations in the United States.
All of this comes on the heels of the company beginning “administration proceedings” in the United Kingdom, where 70 per cent of its stores will close.
