The Body Shop administrators in race to find buyer

Investment firm Aurelius, which took over The Body Shop just weeks before its collapse, is reportedly not expected to put in a bid for the iconic British cosmetics company.

Administrators of The Body Shop have set a deadline for bids in an effort to close the sale of the retailer, according to Sky News. Business advisory firm FRP Advisory has set next Tuesday (11 June) as the deadline for bids.

Sources said that the administrators wanted to close the deal on The Body Shop’s remaining British assets before the end of June.

It was suggested that M&S was considering a bid, but the retailer distinguished any rumours of this nature last week. Next was also in the running, but sources suggested a bid was becoming increasingly unlikely.

At the end of last month, an FRP spokesperson said it had been: "encouraged by the level of interest received to date from interested parties". At the time, FRP totalled over 70 potential buyers.

The Body Shop, which was founded by Anita Roddick in Brighton in 1976, entered administration on 13 February. It currently trades across 100 stores following a shop closure and redundancy programme.

Administrators put the cosmetics chain up for sale after concluding that an alternative restructuring was not possible. It is understood that Aurelius has continued to finance the retailer throughout its administration.