TORONTO — The head of The Body Shop Canada Ltd. says it’s seeking creditor protection because its parent company stripped its Canadian arm of cash and pushed it into debt.
Jordan Searle says in an affidavit that the company’s situation “deteriorated sharply” in December, after parent The Body Shop International Ltd. was purchased by private equity firm Aurelius.
The Body Shop Canada general manager found The Body Shop International kept taking its money but wasn’t paying vendors because the parent company said it had lost access to its financing and was slowing payments to creditors to…
