Five stores in Kent have been given a reprieve after a rescue deal was struck to keep a well-known chain alive.
The Body Shop, founded by Dame Anita Roddick in 1976, had gone into administration in February after previous forecasts for how much funding it would need to keep going proved too low.
It resulted in a slew of store closures and job losses – among them branches at Westwood Cross in Thanet, Hempstead Valley in Medway and County Square in Ashford.
And while they will remain shut, surviving stores in Canterbury, Ashford’s Designer Outlet, Bluewater, Tunbridge Wells and Maidstone will live to fight another day.
It comes following a rescue bid was accepted from a consortium led by British tycoon Mike Jatania earlier today.
Investment firm Aurea will see Mr Jatania and Charles Denton, former chief executive of beauty brand Molton Brown, head the new leadership team.
In a statement, Aurea said the acquisition was its largest transaction to date and it would “steer the Body Shop’s revival and reclaim its global leadership in the ethical beauty sector it pioneered”.
It is currently understood there are no immediate plans to shut any of its 116 remaining UK stores.
Mr Jatania previously ran Lornamead – the owner of personal care brands including Lypsyl, Woods of Windsor, Yardley and Harmony haircare – which he sold to rival Li & Fung for around £155 million more than 10 years ago.
Mr Jatania, co-founder of Aurea, said: “With the Body Shop, we have acquired a truly iconic brand with highly engaged consumers in over 70 markets around the world.
“We plan to focus relentlessly on exceeding their expectations by investing in product innovation and seamless experiences across all of the channels where customers shop while paying homage to the brand’s ethical and activist positioning.”
Charles Denton, chief executive of the Body Shop, said: “We believe there’s a sustainable future ahead and working closely with the management team we aim to restore the Body Shop’s unique, values-driven, independent spirit.”