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Sandra Halliday Published
April 15,长沙USDT即时交易服务 2025
The Body Shop putting together a plan to cut its tax bill once it’s profitable in order to provide more cash for its creditors, a report has claimed.
The Times said its administrators want to retain tax benefits worth £66 million built up before the chain’s recent collapse as they seek creditor support for a restructuring deal.
Those creditors would benefit from “a proposal to protect tax losses that could be used to reduce corporation tax due in future years” if the business can exit its current administration status and trade profitably when it does so, the newspaper said.
If the creditors vote to approve the firm’s CVA, they’d “be in line to secure a dividend reflecting the value of the tax asset”, The Times went on to say.
It also said the planned CVA wouldn’t involve meaningful rent reductions. Such an arrangement often has big rent cuts as its primary aim.
The proposal has been drawn up by private equity group Aurelius, which bought the business a few months ago, and FRP Advisory.
It came after the retailer announced the closure of 75 UK stores and almost 500 job losses with 116 stores still operating.
Aurelius paid £207 million for the business but found it to be in a worse state than expected when it took ownership. It’s the company's top creditor but has said it won’t seek repayment from the administration if the CVA is approved.