Wigan jobs at risk as The Body Shop looks set to go into administration
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The brand’s founder Dame Anita Roddick initially sold the brand to L’Oréal in 2006 for £652m before it was passed to Natura in an £880m deal.
The retailer was then purchased by private equity firm Aurelius in November last year.
It is understood that trading over the key Christmas period and into January was not as strong as anticipated.
The retailer's British business has more than 200 shops in the UK and employs a significant number of staff.
It has been reported that restructuring expert FRP Advisory is likely to be appointed as the administrator in the coming days.
It is believed that the brand won’t disappear from the high street altogether and the focus will shift to reducing its costs, including on property and rents, as well as increasing its online presence.