The Body Shop Saved from Administration

The Body Shop has been rescued from administration by a consortium led by British tycoon Mike Jatania, securing 113 stores and safeguarding over 1,000 jobs. The acquisition, announced on September 7, is described as Aurea's largest transaction to date, with Jatania and former Molton Brown CEO Charles Denton set to lead the revitalization efforts. The Body Shop had faced financial difficulties, leading to the closure of over 80 stores after its previous owner, Aurelius, failed to secure sufficient funding. Despite the challenges, there are no immediate plans to close any of the remaining 116 stores, as the new ownership aims to restore the brand's position in the ethical beauty sector. Founded in 1976 by Anita Roddick, The Body Shop is known for its commitment to cruelty-free products and social activism. Jatania emphasized a focus on product innovation and enhancing customer experiences while honoring the brand's ethical legacy.