The German fund Alma24 has taken over the Belgian activities.
Following the bankruptcy of The Body Shop in its British home market last week, owner Aurelius announced that the majority of its activities in mainland Europe and some parts of Asia would be sold to an international family office.
That family office turns out to be the German fund Alma24. The majority appears to concern the markets of Belgium, Luxembourg, Germany and Austria. In France and the Netherlands, among others, Alma24 was unable to achieve a takeover. There has not yet been any insolvency, but the retailer would no longer receive deliveries from the bankrupt British parent company.
The chain has been placed under receivership in Belgium, Luxembourg and Germany and Alma24 is seeking debt protection. A major reorganization may follow in these countries.
