The British Independent Retailers Association has said the news that The Body Shop has appointed administrators shows that the chancellor needs to restore confidence.
BIRA said the recent events prove the economy needs growth to restore consumer confidence and keep the high street alive.
It has been reported that The Body Shop’s UK business appointed administrators, FRP Advisory, this week in a move which is likely to see shop closures and job losses.
Andrew Goodacre, ceo of BIRA, commented: “It seems that we hear about the demise of a national retailer every few months – this time it is The Body Shop. A stalwart of the high street, it is sad news and we hope that the employees and franchisees are looked after whilst the future of this chain is decided.
“There is no doubt that since the cost-of-living crisis started in 2022, life on the high street has been very difficult for retailers large and small. Shoppers have felt inclined to spend less on so-called non-essential items and official retail sales figures are showing decline in sales volumes.
“The loss of The Body Shop should serve as a reminder to the chancellor that the economy needs growth and he should use his upcoming budget to restore consumer confidence by focusing on economic stability and growth. High streets and local shops are vital to communities everywhere and more needs to be done to help them through these very challenging times.”
