Hilco: The Body Shop saved: Aurea and Hilco Capital join forces to revive iconic cosmetics chain

Copyright © BusinessAMBE 2023 Key takeaways Aurea is close to completing its purchase of The Body Shop with £30 million in working capital from Hilco Capital . The new owners are arranging tens of millions of pounds in new financing for the chain's revival. This deal fits into Hilco's history of backing struggling retail chains, including Superdry and Homebase. Following the bankruptcy of The Body Shop, Aurea, an investment firm led by cosmetics entrepreneur Mike Jatania , is poised to complete its acquisition of the cosmetics chain. To support the acquisition, Aurea has obtained more than £30 million in working capital from Hilco Capital , a prominent retail investor. Aurea's revival plans The new owners are simultaneously arranging tens of millions of pounds in new financing to facilitate the chain's revival. Banking sources suggest that the deal with The Body Shop's administrators, FRP Advisory , is likely to be finalized in the coming days. History of supporting distressed retailers Hilco's involvement fits into its history of supporting struggling retailers. For example, the company has previously provided financial support to Superdry and sold parts of Homebase stores. The Body Shop's recent closure of about 100 stores is a testament to the challenges retail chains face in the current economic climate. Managers of the company concluded that traditional restructuring measures were insufficient, leading to the launch of an auction earlier this year. If you want access to all articles, enjoy our promo temporarily and subscribe here! © The Content Exchange, source News