The Body Shop could emerge from administration in August

The Body Shop should emerge from administration in August, the boss of The Body Shop’s new prospective buyer has revealed.

Former Molton Brown CEO Charles Denton, who leads British tycoon Mike Jatania’s investment firm Aurea, which recently entered an exclusivity agreement with the brand's administrators, confirmed he visited The Body Shop's Littlehampton HQ last week.

In a post on LinkedIn, Denton said: "Over the next few weeks, we’ll work together to develop a strategic plan that sets up the business for long-term growth. If everything plays out as intended, we should emerge from administration in August.

"It’s time to change the narrative around this powerful brand which is loved all over the world. I am optimistic about the future and look forward to what we can achieve together."

Aurea entered exclusive talks with administrators at FRP last week, with a deal expected to be struck in the "coming weeks".

"While the deal is not yet complete, we believe the combined experience of the consortium, together with the existing management team, represents the best outcome for creditors and will ultimately ensure the long-term success of The Body Shop," a joint statement from the two companies said at the time.

"A period of due diligence will now take place, with the intention to complete the transaction in the coming weeks."

The Body Shop entered administration in February, resulting in the closure of 82 stores and 489 job cuts across the UK. It had employed around 1,500 store workers before the administration.

The business was founded in 1976 by Dame Anita Roddick and her husband Gordon as one of the first companies to promote so-called ethical consumerism, focusing on ethically produced cosmetics and skincare products.