The administrators of The Body Shop have announced a deadline for the final bids to be submitted for the recovery of the beauty and skin care retailer.
The high-street beauty brand originally went into administration on February 13th this year, with roughly 100 stores left trading in the UK following a drastic store closure and redundancy plan. They appointed the insolvency firm FRP Advisory to oversee the forthcoming procedures after agreeing that an alternative restructuring was not viable. FRP Advisory have given prospective owners until Tuesday 11th of June to submit their bids.
Aurelius, The Body Shop’s previous owner, who originally called for administrators’ support within only one week from taking control, is unlikely to submit a bid to save the chain. However, they are understood to be continuing to finance The Body Shop during its administration process. There were rumours that retail rival Next may submit a bid, but doubt has arisen for this also.
Despite this, creditors were told by FRP Advisory last month that they felt ‘encouraged’ by apparent interest shown early for the retailer. The future of the store is becoming increasingly negative with only three days left for bids to take place, with none so far confidently expected.
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