The Body Shop rescued by consortium after retailer’s collapse

New management team will be led by former Molton Brown CEO Charles Denton

In February this year, The Body Shop's Irish operations fell into liquidation following a tumultuous period for the popular chain, leading to the loss of 50 jobs across seven stores.

Cosmetic retailer The Body Shop has been rescued from insolvency with a consortium led by British tycoon, Mike Jatania agreeing to buy the long-standing skincare chain.

The acquisition of the long-troubled UK retailer is expected to be completed in the coming weeks, with the new owners including investment fund Aurea Holding, which Jatania runs with former UBS Group AG banker Paul Raphael, and Charles Denton, former chief executive officer of fragrance brand Molton Brown.