Liquidators Daniel Stoneman and Neale Jackson of Calibre Partners, noted it owes a total of $12.079m.
The largest sum owed refers to inter-company loans estimated at $7.45m, namely The Body Shop Australia who managed the New Zealand store operations.
A further $3.56m is owed to landlords where the New Zealand stores operated, with the list of creditors including Westfield St Lukes, Westfield Albany, as well as Kiwi Property Group which owns Sylvia Park.
According to the report, an estimated $344,023 is owed to preferential creditors based on the proof of debt received from Inland Revenue at the date of liquidation.
In terms of unsecured creditors, roughly $168,000 is owed to Inland Revenue, with $412,000 owed to trade creditors.
Other unsecured creditors include Meridian Energy, Amazon Web Services, Mainfreight, New Zealand Post and 2Degrees.
While the report lists that employees were owed $147,000 in salaries and wages at the time of liquidation, Stoneman and Jackson confirmed that employees were all paid preferential entitlements in full during the administration period.
Stoneman and Jackson confirmed that almost all of the business’ assets had been realised to the value of $2.18m, with a small residual balance of fixed assets left to be realised.
Long history
The business operated in New Zealand since 1989 under a franchise structure, before transitioning to the model before liquidation, under the ownership of its UK master franchiser.
As previously reported, the UK business was bought in November 2023 by German company Aurelius for £207 million ($424m), but was subsequently placed into administration in February 2024 after it failed to revive the business.
Because The Body Shop Australia managed the New Zealand operations, it was given six months to use intellectual property and a small supply of inventory purchased from the UK parent while searching for a buyer or potential restructure option.
However, following the six month period, no buyer was found for the New Zealand business, forcing the business to voluntarily enter administration.
At the time of Stoneman and Jackson’s appointment the business operated 16 stores across New Zealand along with its online store.
It employed 135 employees, made up of 26 fulltime workers, 37 part-time and 72 casual workers.
Earlier this week it was revealed that all stores had closed as of February 21, with 70 jobs now gone.
“We progressively closed the stores during the voluntary administration after we sold through all stock that the company had on hand at the time of our appointment, with the last stores closing on February 21, 2025,” Stoneman told the Herald.
A note on Body Shop NZ’s website, which has closed down, says: “All retail locations are now permanently closed, and our online store is no longer processing orders”.
“We extend our heartfelt gratitude to our valued customers for your unwavering support throughout the years. Your passion for our products and ethical values has meant everything to us.”
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
