Once Popular Minnesota Retailer has Filed for Bankruptcy, Closes all US Stores

A retailer that used to be popular in Minnesota and also across the US has now filed for bankruptcy. Not only that, but they've closed all of their US locations.

According to KARE 11, the US branch of the company "ceased operations on March 1".

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Are There Lots of Bankruptcies or Is That Just Me?

I feel like there are a lot of stores that are close to bankruptcy, have already filed for bankruptcy, or are seemingly in trouble financially.

For example, Joann Fabrics officially filed for bankruptcy just a few days ago.

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Does it seem like there are more businesses having trouble right now? Maybe it's just because it's bigger companies that this is happening to and that's why we're noticing it. In the past few years, other big companies like JC Penney and Party City have also filed for bankruptcy.

The Body Shop Has Filed for Bankruptcy

Cosmetics retailer The Body Shop is the company that has officially filed for bankruptcy and then closed all of their US locations.

I remember going to the Mall of America in the Twin Cities back in the day and always seeing The Body Shop store while shopping. Sure enough, that one is no longer in operation. And same with the location that used to be at the Southdale Center in Edina.

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The Body Shop is a UK-based company that used to have lots of locations all around the world. Of course, they still have their locations in the UK but they also still have a few locations in Canada. However, they are closing dozens of their Canada locations because of this bankruptcy filing.

History of The Body Shop

The Body Shop was founded by Anita Roddick in 1976. She's "often hailed as an early champion of ethical practices in business," according to KARE 11. They also "promoted fair-trading practices and products that were not tested on animals."

Then, in 2006, Anita and her husband sold The Body Shop to L'Oreal. It was then sold to Natura in 2017.

Sadly, there was a hint that The Body Shop wasn't doing well last year when it was sold to Aurelius. Aurelius is a company that specializes in helping turn around companies who are having trouble.