We wrote about The Body Shop’s administration struggles back in early June, where FRP Advisory gave prospective owners until June 11th to submit their bids. It now appears to have had success after being rescued from administration by investment company Auréa Group. The Body Shop was originally founded in 1976 by the late Dame Anita Roddick and her husband Gordon.
Following the administration process, the company maintained 113 high street stores with roughly 1,300 employees.
Auréa Group is a consortium company owned by Mike Jatania and purchased The Body Shop for an undisclosed sum which was finalised on Friday the 13th September. The purchase now means that Jatania’s company will take control over the ethical brand’s assets in North America and Australia.
While Auréa Group has not indicated any steps it will take straight away, it is estimated that the purchase will save over 1,000 employees’ jobs.
After struggling with finances for some time, The Body Shop was previously bought in 2023 for £207 million, however was quickly put into administration following this after owing £276 million to creditors. Following this, the company has had to shut 85 stores, as well as losing just under 800 employees based in the stores and its offices.
Jatania has stated how he has ‘acquired a truly iconic brand with highly engaged customers around the world,’ and how he plans to ‘focus relentlessly on exceeding their expectations by investing in product innovation and seamless experiences across all of the channels where customers shop while paying homage to the brand’s ethical and activist positioning.’
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