Next considers bid for The Body Shop
Next has approached the administrators of The Body Shop to discuss a potential deal to purchase part of the embattled retailer.
Executives from Next – which has been monitoring the situation at the cosmetics retailer for some time – have contacted administrators from FRP Advisory, Sky News has reported.
The retailer has reportedly expressed interest in acquiring some of The Body Shop’s assets should a sales process go ahead.
However, Sky News has reported that FRP may not run a conventional auction for The Body Shop, adding that one of its sources said that communications with Next had already come to a stop.
The Body Shop called in administrators earlier this month, just weeks after being acquired by private equity group Aurelius for £207m. Following their appointment, a restructuring plan was put in place which involves the closure of around half of the retailer’s 198 UK stores.
Next has acquired a number of retailers in recent years, including Cath Kidston, FatFace, JoJo Maman Bebe, Joules, and Made.com.