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MONEY MATTERS: Kings Langley business out of pocket after The Body Shop hits financial trouble

 Published on: 3rd June 2024   |   By: Dean Shaw   |   Category: Uncategorized

A business in Kings Langley has been left £91,000 out of pocket after national retailer The Body Shop hit financial difficulties.

Century Engineering & Refrigeration, based on Station Road, were owed £91,206.83 before the cosmetics chain called in administrators.

They are one of dozens of businesses and people across the country who have not been paid by The Body Shop. Other local businesses affected include car rental company Tusker Direct in Watford.

The debts were outlined in a document published by Companies House, which showed that The Body Shop owed £276million to creditors.

Century Engineering & Refrigeration declined to comment, while The Body Shop administrators FRP Advisory said that they wouldn’t comment on individual cases.

However, on May 17, FRP issued an update on the future of The Body Shop.

A spokesperson for FRP said: “It has not been possible to reach the necessary agreements for a company voluntary arrangement (CVA) to be launched.

“The joint administrators have therefore decided to commence a sale process for the underlying business and assets of The Body Shop International.”

A CVA allows insolvent businesses to pay off their debts with creditors over a fixed period of time.

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