The Body Shop’s administrator has set a deadline for rescue bids.
FRP Advisory, which was appointed earlier this year to handle The Body Shop’s insolvency, has asked for indicative bids to be in by 11 June.
The deadline marks an effort to wrap up a sale of the struggling beauty retailer’s remaining British businesses by the end of the month, according to Sky News.
It added that Aurelius, the investment firm which announced its purchase of The Body Shop from Natura & Co in November 2023, is not expected to submit an offer by tomorrow.
While retailers Next and Marks & Spencer have both been tipped as potential bidders, M&S sources confirmed to Retail Gazette that it would not be submitting an offer for the chain.
However, according to Sky News, FRP Advisory remains encouraged by the level of interest in The Body Shop from potential bidders ahead of tomorrow’s deadline.
The Body Shop’s auction was launched in May after the administrators concluded that an alternative restructuring was not viable.
Aurelius Group bought The Body Shop in a £207m deal that was wrapped up in January, just weeks before administrators were called in.
