M&S and Next have made early expressions of interest in submitting possible rescue bids for The Body Shop as administrators prepare to launch an auction.
Administrators at FRP Advisory revealed last week the vegan beauty chain would be put up for sale the second time within a year if its plans for a company voluntary arrangement (CVA) fell through.
Private equity firm Aurelius, which placed The Body Shop into administration within months of acquiring it, is also preparing to table a bid to regain ownership, The Times reported.
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FRP wrote to creditors last week to say it was “encouraged” by the early interest shown in the retailer.
The administrators have received expressions of interest from over 70 potential bidders, although it is likely that many will not be considered suitable buyers.
Sky News first reported of Next considering a rescue bid to acquire parts of The Body Shop back in February, with people close to the group confirming it had been monitoring the business and had expressed an interest in assembling a deal.
Meanwhile, a source close to M&S told Retail Gazette that the retailer would not be submitting a bid for the beauty chain.
The sale process comes after a lengthy restructure of The Body Shop which resulted in the closure of 82 stores and 800 employees made redundant.
Last year, Brazilian beauty group Natura &Co sold the high street chain to Aurelius in a deal that valued it at £207m. However, it emerged last month that the private equity firm paid just £3.5m upfront for the chain.
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