https://www.kentonline.co.uk/kent/news/the-body-shop-goes-into-administration-301716/
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00:00 I think those in the industry saw this coming.
00:02 There were already rumors and they
00:04 had announced an intention to try and restructure
00:07 some of their finances earlier.
00:09 And they're not the only one.
00:10 There's a few other large players that are in the market,
00:13 particularly in the retail, hospitality, and leisure,
00:16 who are in the process of getting notice of intent
00:19 to go into administration.
00:21 And they're basically trying to renegotiate rental terms
00:25 or possibly work on creditor agreements with their supply
00:29 base.
00:29 So we're starting to see what is obviously
00:32 the culmination of perhaps not such a prosperous Christmas
00:35 for many of these organizations.
00:38 And unfortunately, this is the consequences now.
00:40 Some are managing to renegotiate and come out of this.
00:42 But quite a few are not managing it,
00:45 body shop being the case in point.
00:47 And I'm afraid we'll probably see a few more of these
00:49 over the next month or so.
00:50 And I think this is all probably indicative
00:52 of where we are in the economy at the moment
00:54 with an election year, waiting for plans,
00:57 waiting for opportunities to be laid out in terms of where the government wants to take us.