The Body Shop is set to be rescued by British tycoon Mike Jatania. The fate of the beauty retailer has been hanging in the balance since February when its administration triggered 759 job losses and the closure of 82 shops. But now cosmetics millionaire Jatania is in talks over a deal via his investment firm Aurea.
This has raised hopes that the remaining 116 stores and around 1,400 staff will be saved. UK cosmetics tycoon Mike Jatania (pictured with wife Sonal) is looking to rescue the Body Shop chain which crashed into administration in February A sale is expected in the next few weeks and Jatania has started due diligence checks, according to a statement by Aurea and administrators FRP Advisory. Plans include hiring former boss of shower gel brand Molton Brown, Charles Denton, as chief executive.
The statement said: 'While the...
Emily Hawkins.
