THE WHAT? FRP Advisory, the firm that has been appointed to handle the insolvency of The Body Shop’s UK retail business, has set a deadline for indicative bids for the ethical cosmetics chain. The administrators are said to be keen to close the deal before the end of this month.

THE DETAILS According to a report published by Sky News, owner Aurelius is not expected to bid for the British stores. Fellow UK high street stalwarts Marks & Spencer and Next have both been linked to the sale, although the former is thought to have pulled out of the race and the latter is said to be thinking twice about any potential purchase.

THE WHY? The Body Shop’s UK retail arm was put up for auction last month after alternatives for the chain had been ruled out by administrators.