The expected buyers of The Body Shop are in advanced talks to secure new financing as they finalise a rescue deal.
Mike Jatania’s Aurea investment firm is looking to secure working capital of roughly £30m from Hilco Capital, Sky News reported.
Aurea’s acquistion of the beauty brand, which fell into administration earlier this year, is expected to be completed in the coming days.
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The Body Shop collapsed into adminstration in February just months after it was acquired by private equity firm Aurelius for £207m last November.
Administrators at FRP put the chain up for sale after it concluded that an alternative restructuring of the high street retailer was not viable.
The Body Shop now trades from roughly 100 stores following a shop closure and redundancy programme, which saw more than 75 shops shutter and the loss of 489 jobs.
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