The Body Shop administrators in race to find buyer - Indoors Beauty

The Body Shop administrators in race to find buyer

The Body Shop administrators in race to find buyer

Investment agency Aurelius, which took over The Body Shop simply weeks earlier than its collapse, is reportedly not anticipated to put in a bid for the enduring British cosmetics firm.

Administrators of The Body Shop have set a deadline for bids in an effort to shut the sale of the retailer, in accordance to Sky News. Business advisory agency FRP Advisory has set subsequent Tuesday (11 June) because the deadline for bids.

Sources mentioned that the administrators needed to shut the deal on The Body Shop’s remaining British belongings earlier than the tip of June.

It was instructed that M&S was contemplating a bid, however the retailer distinguished any rumours of this nature final week. Next was additionally in the working, however sources instructed a bid was changing into more and more unlikely.

At the tip of final month, an FRP spokesperson mentioned it had been: “inspired by the extent of curiosity acquired to date from events”. At the time, FRP totalled over 70 potential patrons.

The Body Shop, which was based by Anita Roddick in Brighton in 1976, entered administration on 13 February. It at present trades throughout 100 shops following a store closure and redundancy programme.

Administrators put the cosmetics chain up on the market after concluding that another restructuring was not potential. It is known that Aurelius has continued to finance the retailer all through its administration.

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