Do we like The Body Shop?
Ethical-branded cosmetics and skincare retailer, founded in the UK and now owned by Auréa (Mike Jatania's group).
Our score: 4 out of 10. A much-loved ethical brand that was run into the ground under private equity. The rescue is promising but still young, and we'd wait and see before backing it.
The Body Shop was long the high-street name for ethical beauty. Natura sold it to the private equity group Aurelius in November 2023 for £207 million.
Within months, Aurelius put the UK arm into administration, appointing FRP Advisory. The UK arm reportedly owed creditors over £276 million, around £143 million of it to other parts of the group.
The administrators said they'd close 75 more UK shops, with 489 jobs lost. Germany's arm also collapsed, with all 60 stores due to close. Reports say the US business closed all its stores too.
A consortium led by Auréa, founded by Mike Jatania, with Charles Denton leading, took the business out of administration. The score is middling because the rescue is recent and the damage was real.