Former Mothercare boss among The Body Shop bidders
Gordon Brothers, whose UK business is led by former Mothercare boss Mark Newton-Jones, is said to be among several firms that have submitted bids for what remains of the chain
Several private equity giants are reportedly eyeing a rescue bid for The Body Shop’s high street business, The Telegraph has reported. Gordon Brothers, whose UK business is led by former Mothercare boss Mark Newton-Jones, is said to be among several firms that have submitted bids for what remains of the chain.
Sources also told The Telegraph that both investor Alteri and Modella Capital, which is part of private equity house R Capital, are also considering rescue deals for the business.
Earlier this year, it was reported that The Body Shop collapsed into administration, just three months after Aurelius agreed to a £207m takeover deal, putting hundreds of jobs at risk at the beauty chain.
In February, the German buyout company confirmed it had appointed FRP Advisory as administrator following the group’s collapse in the UK. The retailer’s international business was not affected by the collapse.
It was understood that the private equity firm was unsuccessful in its plan to revive The Body Shop’s fortunes after underwhelming trading over the crucial Christmas and New Year trading period.
Administrators at FRP closed 75 of the group’s worst-performing stores, resulting in job losses of around 2,200. However, the chain still has roughly 100 high street shops.
In March, it was reported that HMV owner Doug Putman was considering a bid to acquire The Body Shop from its administrators.
It was later reported that both M&S and Next were reportedly considering launching rescue bids for the embattled retailer, as administrators get ready to launch an auction process.
According to The Times, FRP Advisory was “encouraged” after the high street firms expressed early interest in The Body Shop.
