British retailer Next and the owner of music retailer HMV are reportedly among those eyeing a possible takeover of struggling cosmetics chain The Body Shop.

Next is understood to have approached administrators to the retailer, FRP Advisory, regarding a possible sale of assets, according to sources for Sky News.

Meanwhile, though HMV’s Doug Putman has not yet put a formal offer on the table for the collapsed firm, he is believed to have registered his interest, according to The Telegraph.

Over the past month, The Body Shop has seen a number of its international subsidiaries succumb to bankruptcy, starting with its UK chain that was quickly followed by administration filings in Germany, Belgium and Ireland.

The latest news, however, is that the company has now also filed for Chapter 7 insolvency in the US, where it has ceased trading in its 50 outlets, and Canada too, with 33 of its 105 shops reportedly now closed.

This is according to the Guardian, which further stated that the company had also been struggling to pay suppliers in Australia where it is understood that its access to funds had been cut off.