The Globe and Mail reports in its Saturday, March 2, edition that the Body Shop is set to close about 30 per cent of its Canadian stores and cut jobs. The Globe's Susan Krashinsky Robertson writes that this comes just weeks after the brand's U.K.-based parent company began restructuring under new ownership by German private equity firm, Aurelius Investment. On Friday, The Body Shop Canada Ltd. filed a "notice of intention to make a proposal" under the Bankruptcy and Insolvency Act. The retailer operates 105 stores across Canada, 33 of which will immediately begin liquidation sales. The Body Shop will be cutting jobs in Canada, where it has more than 700 employees, but it did not specify the number of layoffs to come. Its e-commerce site ceased operations on Friday. The Canadian stores are also no longer accepting returns. The Globe reports that as of Feb. 26, The Body Shop Canada owed more than $3.3-million to its creditors. Also on Friday, The Body Shop US Ltd. immediately ceased operations and closed all its stores in the United States. The Body Shop launched a partnership with Loblaw last summer to sell its products at Shopper Drug Mart across the country. That deal will also be affected by the restructuring.