The Body Shop’s U.S. unit makes Chapter 7 bankruptcy filing

By Sarah Lizee

Olympia, Wash., March 11 – Buth-Na-Bodhaige, Inc., a U.S. subsidiary of London-based The Body Shop, filed Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York on Friday.

The group’s European divisions were put into administration in February. The Canadian division filed for creditor protection on March 1.

In the Chapter 7 petition, the debtor said that after any administrative expenses are paid, no funds will be available for distribution to unsecured creditors.

The company listed $50 million to $100 million in assets and $10 million to $50 million in liabilities.

Morgan Lewis & Bockius LLP is the debtor’s counsel.

The Body Shop is a cosmetics company. The New York-based subsidiary’s Chapter 7 case number is 24-10392.

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