The Body Shop set to appoint administrators in UK
The new owners of The Body Shop are preparing to appoint administrators for the beauty firm’s UK arm.
According to Sky News, the retailer is lining up FRP Advisory to handle an insolvency process for the company that was founded by Dame Anita Roddick and her husband Gordon in 1976.
The Body Shop trades from around 200 stores in the UK. City sources told Sky News that the administrators are likely to consider closing a significant proportion of the outlets, although they said it was too early to speculate on specific numbers.
According to an insider, any insolvency process would be unlikely to impact The Body Shop’s global franchise partners.
The retailer has recently been acquired by the Aurelius private equity firm from Natura & Co in a £207 million deal. In the last few days, it has been revealed that The Body Shop will sell most of its business in mainland Europe and parts of Asia to an international family office.
