Former Mothercare boss makes rescue bid for The Body Shop

Private equity firm Gordon Brothers is among the companies eyeing a possible rescue of The Body Shop as administrators at FRP receive a number of bids for the beauty business.

The Laura Ashley-owner, which is led by former Mothercare and Shop Direct boss Mark Newton-Jones, is understood to have submitted a rescue bid for what is left of the British brand, according to The Telegraph.

The firm is understood to be part of a small group of competing company's that have tabled offers for The Body Shop in recent days.

Rival private equity firm Alteri Investors is also among the group of competing firms that have recently submitted offers, as well as Modella Capital, which is part of private equity house R Capital, and an existing franchise partner of The Body Shop’s operations in Asia.

The Body Shop, which was founded by Anita Roddick in 1976, entered administration in February this year. It currently trades across 100 stores following a shop closure and redundancy programme.

Administrators at FRP last month said they wanted to complete the sale of The Body Shop before the end of June.

At the end of May, an FRP spokesperson confirmed that it had been "encouraged by the level of interest received to date from interested parties". At the time, FRP totalled over 70 potential buyers. Aurelius is reportedly not expected to put in a bid for the British brand.