According to Retail Week, Natura &Co. has set a final deadline for interested parties to submit their offers to buy The Body Shop: October 23^rd.
 
This news comes after no formal offers were submitted for the ethical beauty retailer during the first round of non-binding bids, which expired on September 11.
 
Companies in the running to buy the Body Shop include Aurelius Group, Elliott Advisors, Epiris and Alteri Investors.
 
Reportedly, some potential bidders have been put off by the Body Shop’s $511 million price tag.
 
The Body Shop has struggled to maintain profitable growth in recent years, but it remains a cornerstone of many UK high streets, with around 10,000 employees and close to 3,000 stores in 70 countries. After six consecutive quarters of losses, Natura’s goal is to deleverage in a bid to bring back profitability.