Administrators of The Body Shop have set a deadline of today (July 3) for prospective buyers to submit bids.
It comes amid reports that administrator FRP is keen to wrap up the sale of the retailer remaining assets after its collapse in February.
It is understood that Laura Ashley owner Gorden Brothers is the favourite to take on the chain after rival private equity firm, Bensons for Beds owner Alteri, pulled out of the race, The Sun reported.
Related Story
Authentic Brands Group, which owns Hunter Boots and Ted Baker, is also thought to be in the running to snap up its remaining 100 stores.
Last month it was revealed that The Body Shop’s former owner Aurelius, which called in administrators only weeks after taking control, is not expected to submit an offer.
M&S, which was tipped as a possible bidder, quashed rumours it was considering an offer, and there’s growing doubt that rival Next will make a bid.
Administrators at FRP put The Body Shop up for sale after it concluded that an alternative restructuring was not viable. Aurelius is understood to have continued financing the high street chain during the administration process.
Click here to sign up to Retail Gazette‘s free daily email newsletter
