A WELL-KNOWN high street beauty shop with 250 locations could be put up for sale.
In a filing yesterday, Natura and Co, which owns The Body Shop, said it had authorised bosses to explore "strategic alternatives" for the retailer.
The Brazilian beauty conglomerate added the move could involve a "potential sale" of the business.
However, it added there was "no assurance" its latest decision would lead to the company being bought out.
It is not clear at this stage whether a sale of the company would see stores close or jobs lost.
The news comes just weeks after Subway was sold to a private equity firm, The Wall Street Journal reported, and as a number of high street retailers struggle amid surging energy costs and as consumers turn to online shopping.
Read more in Retail
High Street chain with 450 branches to abruptly close store for good within days
Bargain supermarket with over 800 locations to shut stores in weeks
New Look recently announced it is shutting one branch in Aberdeen within days following a string of closures.
Argos has closed branches in recent weeks too.
A number of retailers have crashed into administration as well this year.
Cath Kidston was bought by Next in March after falling into administration, but the deal did not include its shops.
Most read in Money
New Wilko rescue bid emerges as MoneySavingExpert warns of online scam
Shoppers 'absolutely gutted' as New Look announces store closure
Future of Pizza Hut hangs in the balance as chain battles huge debt pile
Fast food chain you've never heard of that's 'better than KFC' – prices start at 30p
It saw locations in London, Kent, Ellesmere Port and York shut to customers for good.
Meanwhile, Paperchase went bust in January, with its 106 stores closing soon after.
Most recently, Wilko fell into administration, putting 400 stores and 12,500 jobs at risk. But a recent bid could see them saved.
But it's not all bad news. A number of retailers have opened branches since last year or into 2023, or have plans to this year.
New Look opened several shops across the UK in November 2022 while it has plans to open more in 2023.
The retailer has stopped short of saying how many will open and where in the UK they will be though.
Meanwhile, Poundland has plans to open 50 new stores in England by the end of September.
The Body Shop opened its first UK store in 1976 in Brighton.
Natura and Co is the fourth biggest beauty group in the world, employing 40,000 members of staff and operating in over 100 countries.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
Source: Read Full Article