U.K. beauty retailer The Body Shop prepares to appoint administrators

The Body Shop, a well-known British high street retailer founded by Dame Anita Roddick in 1976, has announced its intention to appoint administrators shortly after being bought by a private equity firm for approximately £207 million. The company, which grew from a single shop to have almost 200 stores in the UK, a distribution center, and a head office, issued a court notice seeking creditor protection with FRP Advisory handling the restructuring process. Previously, Aurelius Capital, the private equity firm, stated that they were unable to revive the business after poor trading during Christmas and New Year. The company's financial struggles have been ongoing for some time.