MIRROR Online: LONDON, England By Ruby Flanagan – The Body Shop has collapsed into administration putting thousands of jobs and hundreds of stores at risk.

The administrators, FRP Advisory have been brought in to “accelerate restructuring” of the chain’s UK business. In it’s announcement today, FRP Advisory said the retailer was considering “all options to find a way forward for the business”. As of right now, the administrators said Body Shop would continue to trade as normal. This means shoppers should be able to use their Body Shop giftcards as normal for the forseeable future.

FRP Advisory said the iconic British retailer had “faced an extended period of financial challenges under past owners” which coincided with a “difficult trading environment for the wider retail sector.”

It added: “Having taken swift action in the last month, including closing down The Body Shop At Home and selling its business across most of Europe and in parts of Asia, focusing on the UK business is the next important step in The Body Shop’s restructuring.”

It comes after it was reported last week that the British high street chain, which has around 200 stores in the UK, was in trouble as trading over Christmas and January was not as strong as hoped. Reports also claimed the Body Shop had “insufficient working capital”.

Top Feature Photo: The Body Shop has 250 stores in the UK Getty Images