FRP Advisory has concluded that restructuring The Body Shop International (TBSI) business via a CVA is no longer considered viable, as stakeholders have failed to reach an agreement.
FRP administrators will now instead offer the underlying business and assets of TBSI to the highest bidder. A sale will inevitably result in the closure of TBSI stores and further job losses.
Next is expected to take a closer look at the opportunity to expand further into the beauty category and would probably be the preferred buyer.
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