THE Body Shop, which has a branch in Newton Abbot, is expected to appoint administrators for its UK operation within the coming days, retail analysts have said.
Aurelius, the new private equity owners of the cosmetics retailer, are preparing to appoint FRP Advisory to manage an insolvency process, which will put many jobs and stores at risk, according to Sky News.
The administrators are likely to consider shutting a significant amount of the chain’s UK stores, City sources told the publication.
According to Retail Gazette, the move is likely to result in shop closures and job losses.
Set up by the late Dame Anita Roddick in 1976, current owners private equity firm Aurelius bought the company just a few weeks ago.
It is now expected to appoint experts to significantly restructure the retailer.
The Body Shop has more than 200 shops in the UK as well as its headquarters in London.
Restructuring expert FRP Advisory is likely to be appointed as the administrator in the coming days.