Next has reportedly been weighing up buying parts of The Body Shop after the high street cosmetics chain fell into administration last week.
The clothing giant is said to have suggested to FRP Advisory, the administrators responsible for handling The Body Shop’s insolvency, that it would be interested in elements of the much-loved wellness brand, according Sky News.
But talks are now said to have stalled over the fact FRP might not have tenure of The Body Shop’s valuable intellectual property (IP) and brand, the part of the business in which Next is most interested, according to a report in The Sunday Times.
Instead, the administrators’ focus is said to be on auctioning the company’s physical footprint after announcing it would close half of its 198 UK stores.
Aurelius, which bought the Body Shop for £207m in January, still controls other parts of the cosmetics business, and is the ultimate owner of its stock and IP, the Sky News report said.
Having snapped up the likes of Fat Face, Cath Kidston and maternity wear chain Jojo Maman Bebe in the last two years, Next has ended up becoming the new owner of a number of ailing British retailers.
Next declined to comment.