Body Shop's remaining stores rescued from administration [Yahoo! Finance]
MARKS & SPENCER GRP S/ADR (MAKSY)
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Source: Yahoo! Finance
A consortium led by the British cosmetics tycoon Mike Jatania has acquired the ethical beauty brand's 113 UK stores which remain trading, for an undisclosed sum. The specialist investment firm Auréa Group will also gain control of the Body Shop's assets in Australia and North America, in a deal which was finalised late on Friday. Mr Jatania described the Body Shop as "a truly iconic brand" popular in over 70 markets around the world. "We plan to focus relentlessly on exceeding their expectations by investing in product innovation and seamless experiences across all of the channels where customers shop," he said. Announcing the deal, Auréa Group said it has "no immediate plans" to shut stores but that it would monitor the footprint of the estate over the coming months as it tries to manage costs. The Body Shop was founded in Brighton in 1976 by the late environmental and human rights campaigner Dame Anita Roddick. What began as a single shop in the seaside town quickly gre
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