Body Shop’s remaining UK stores saved after rescue deal agreed

British cosmetics tycoon Mike Jatania leads consortium to acquire UK's 113 outlets and outposts in Australia and North America

The Body Shop has been rescued from administration by a consortium led by the British cosmetics tycoon Mike Jatania in a deal that will keep the ethical beauty brand's remaining 113 UK stores trading.

Aurea, the growth capital firm founded by Jatania and former UBS, Credit Suisse and Merrill Lynch executive Paul Raphael, said it had bought all the Body Shop International's assets, which include its UK stores and control of outposts in Australia and North America for an undisclosed sum.