THE BODY Shop has been rescued from administration at the eleventh hour – including the store in Worcester.
Consortium, Auréa, led by the British cosmetics tycoon Mike Jatania has acquired the beauty brand’s 113 UK stores which remain trading for an undisclosed sum.
It is said around 1,300 jobs have been saved across the country.
Mike Jatania will serve as executive chairman of The Body Shop following the sale, while former Molton Brown boss, Charles Denton will take over as chief executive.
A spokesperson for Auréa said: “We believe that the stores are an important part of the brand’s connection to its customers. We will naturally monitor the footprint of the estate to make sure that we are optimising performance through that connection.”
“Auréa will apply its investment acumen, deep industry knowledge and operational expertise to rebuild the business while honouring the heritage and values that connect the brand with its customers.”
Charles Denton added: “I am truly excited to lead this brand which I have admired for many years.
“We recognise that revitalising the business will require bold action and a consumer-centric, commercially agile mindset. We believe there’s a sustainable future ahead and working closely with the management team we aim to restore the Body Shop’s unique, values-driven, independent spirit.”
The Body Shop, which was founded by Anita Roddick in 1976 fell into administration in February just three months after its then new owner Aurelius had bought it for £207m.
At the time it owned creditors £267m.
FRP Advisory were appointed as administrators and have closed 85 stores. Some 500 high street jobs have been lost, along with around 270 office roles.
