Serruya Private Equity Steps In
Serruya Private Equity is poised to take over the operations of The Body Shop Canada. Though the financial specifics of this transaction have not been disclosed, court documents hint that The Body Shop Canada is indebted approximately CAD$11.5 million to CAD$12.5 million to its creditors.
The Bidding Process
BNN Bloomberg shared that Serruya Private Equity emerged as one of four contenders vying for the prestigious Canadian arm of the ethical beauty retailer. An agreement has been reached for Serruya to begin a franchise relationship with the current proprietors, Aurea, as they prepare for the acquisition.
Current Status and Market Insights
Requests by Bloomberg for comments from The Body Shop Canada and Serruya Private Equity were met with no response. Nevertheless, it is widely acknowledged that The Body Shop has been navigating a challenging year.