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The Guardian - UK
The Guardian - UK
Business
Jack Simpson

Body Shop nears rescue deal with group led by British cosmetics tycoon

Shoppers pass a Body Shop store in Canterbury, Kent
The Body Shop lost more than 80 stores and hundreds of jobs after falling into administration in February. Photograph: Gareth Fuller/PA

The Body Shop is close to being bought out of administration after it agreed to exclusive rescue talks with a consortium led by the British cosmetics tycoon Mike Jatania.

Jatania’s investment company, Auréa, is in negotiations with the UK cosmetic chain’s administrators over a deal. The Body Shop fell into administration in February, leading to hundreds of job losses and more than 80 shop closures.

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