Information that News was able to obtain indicates that Hilco Capital, a significant lender and investor in the retail industry, is in advanced discussions to supply Aurea, an investment firm led by Mike Jatania, the entrepreneur of the cosmetics industry, with working capital exceeding thirty million pounds.
According to banking sources, the agreement between Aurea and FRP Advisory, the administrators of The Body Shop, was probably going to be completed in a few days.
The bankers stated that if verified, the additional loan from Hilco would be utilized to assist in putting the chain of cosmetics back on a development trajectory.
Hilco is a frequent bidder and financier to shops; it recently sold a portion of its owned Homebase stores and borrowed money to Superdry.
Hilco, FRP, and Aurea all choose not to respond.
Earlier this year, The Body Shop went up for auction after FRP determined that a different reorganization of one of the most well-known high street brands in Britain was not feasible.
