The ex-boss of Mothercare, Mark Newton-Jones, could have a big role to play in the future development of The Body Shop with News that turnaround specialist Gordon Brothers is among the interested parties having submitted bids for the cosmetics chain.
Newton-Jones is head of the Gordon Brothers business in EMEA and prior to this was head of Mothercare on two separate occasions. In his second stint running the business he oversaw the troubled firm’s transition from a direct retailer to a brand owner.
The Body Shop has also been through trying times and its takeover by German private equity group Aurelius late last year was followed three months later by the business being put into administration.
Large parts of its international operations were also either sold or closed and in its UK home, a big chunk of its stores were shuttered.
The remainder of the business is now up for sale and Gordon Brothers is reportedly among “a small group of competing outfits that have tabled offers in recent days,” according to the Telegraph.
Another turnaround specialist, Alteri, is also reportedly interested, as is Modella Capital. The newspaper said that an existing franchise partner of The Body Shop’s operations in Asia is in the running too.
Despite the closure of 75 of its worst-performing UK stores, The Body Shop still has around 100 locations in the UK and it’s unclear whether any of those competing to take it over would want to retain some or all of them.
The once-global business struggled in recent years, although there have been reports that the UK arm was profitable. But several experienced and deep-pocketed previous owners had been unable to make a go of The Body Shop with both L’Oréal and Natura &Co selling the company on after several years of trying.
When Aurelius bought it in a deal worth £207 million, it quickly decided that turning it around wasn’t an option, hence the administration filing.
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