Administrators of The Body Shop have set a deadline for bids as it looks to wrap up the sale of the retailer.

FRP Advisory has requested that indicative bids for the vegan beauty are submitted by next Tuesday, Sky News reported.

Sources said the administrators wanted to secure a deal for The Body Shop’s remaining British assets before the end of June.

It is understood that the retailer’s former owner Aurelius, which called in administrators only weeks after taking control, is not expected to submit an offer.

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M&S, which was tipped as a possible bidder, quashed rumours it was considering an offer last week.

According to Sky News, there is also growing doubt that rival Next will make a bid.

FRP told creditors last month that it was “encouraged” by the early interest shown in the retailer, which now trades from roughly 100 stores following a shop closure and redundancy programme.

The administrators put The Body Shop up for sale after it concluded that an alternative restructuring was not viable.

The retailer’s private equity owner Aurelius is understood to have continued financing the high street chain during the administration process.

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