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Bira On Why The Chancellor Needs to Restore Consumer Confidence

The news that the Body Shop – recently bought  from private equity firm Aurelius – has appointed administrators is a move which is likely to see shop closures and job losses, with the British Independent Retailers Association (Bira) stating that the government needs to do more to protect the high street.

Above: Bira’s ceo Andrew Goodacre.
Above: Bira’s ceo Andrew Goodacre.

“The economy needs growth to restore consumer confidence and keep the high street alive,” says Bira’s ceo Andrew Goodacre. “It seems that we hear about the demise of a national retailer every few month – 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 while the future of the chain is decided.”

He adds 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 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.”

The Body Shop was set up in 1967 by the late Dame Anita Roddick. It has changed hands three times since it was sold by the founder in 2006. It is believed to employ 10,000 people, operating in around 3,000 stores in over 70 countries.

Top: Bira says that the government needs to do more to protect the high street and restore consumer confidence.

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