THE clock is ticking to save bust high street brand Body Shop as there are just hours left for bids to be submitted to rescue the brand. Administrators at FRP Advisory have given potential buyers the end of today to make their final offers . 1 Over 100 stores remain at risk unless a buyer is found Credit: Reuters The chain has 100 stores across the UK and it affects 1,500 jobs.
There is hope for the iconic brand as it's understood that Body Shop's administrator remains confident that a buyer will be found. The Sun also understands that restructuring firm Gordon Brothers is the favourite to take over after rival outfit Alteri pulled out, as reported by Business Editor Ashley Armstrong in today's newspaper. Authentic Brands Group is also believed to be interested.
However, even if a rival submits a final offer by the end of today, it could take weeks to finalise the deal. It comes just weeks after FRP Advisory confirmed that the chain is up for auction after a restructuring plan was not deemed viable. The Body Shop still operates out of 100 stores, and these will continue to trade as usual for now.
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