Yahoo Finance Body Shop sets deadline to save UK stores and jobs
The firm in charge of selling The Body Shop in the UK has set a deadline for buyers to submit bids in a race to save 1,500 jobs.
The BBC understands that FRP Advisory, which is overseeing the sale, has asked firms to make an offer by next Tuesday.
The Body Shop still operates 112 stores in the UK after Aurelius, a private equity firm, put the company into administration in February only a few months after buying it.
There have been 75 expressions of interest in The Body Shop but it is understood that Aurelius is not among the bidders.
Prior to administration, The Body Shop employed 2,200 people and had 198 stores in the UK.
Once a dominant force in the 1980s and 1990s, The Body Shop has faced increasing competition from brands like Lush and Rituals, which also focus on natural beauty products.
The Body Shop was established in Brighton in 1976 by the late Dame Anita Roddick.
It began as a single shop in the seaside town and quickly grew into a global brand, known for its beauty offer, perfumes and ethical stance against animal testing.
Dame Anita and her husband Gordon sold the business to French beauty giant L'Oreal in 2006, much to the chagrin of some loyal followers who viewed the French beauty giant's business at odds with The Body Shop's ethos.
Since then, The Body Shop has changed hands twice, most recently to private equity firm Aurelius in late 2023.
Shortly after the acquisition, Aurelius placed the UK arm of The Body Shop into administration following disappointing sales over the key Christmas and January trading periods.
