The Body Shop opens at Westfield Riccarton this week, creating at least 10 jobs in a prime Christchurch mall. Nineteen months ago, the company that last ran the brand here was in liquidation with $12.1 million in creditor claims against $2.2 million in assets.
That gap is the story. Liquidation did what restructuring could not. It separated the brand’s customer goodwill from the balance sheet that sank it. What was left was a recognisable name with a loyal following, available without the baggage. Whether that is a bargain or a trap depends on what happens next.
The debt died with the old company
The previous operator entered voluntary administration on 22 January 2025 after three consecutive years of losses….