The Body Shop administrators are probing whether millions were taken out of the firm before its collapse.
FRP Advisory is investigating financial discrepancies that pre-date the cosmetic giant’s acquisition by Aurelius.
The Telegraph reported the inquiry is still in its initial phases.
High-ranking MPs have called for an in-depth examination of the company’s collapse.
The collapse has led to store closures and hundreds of job losses.
Figures reviewed by The Telegraph show the firm’s UK retail sector generated £19 million in profits from £163 million in sales during its collapse.
These 2023 figures, reflecting the performance of 198 UK stores, exclude the company’s international expenses.
In February, when The Body Shop entered administration, it was revealed that the company experienced a £60 million loss in 2022, including international operations.
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The Sunday Times reported despite the profitability of several outlets, administrators are proceeding with the closure of numerous The Body Shop stores.
Out of the company’s 206 UK locations, internal documents indicate that only eight were not profitable last year.
However, 82 stores are slated for closure within the next six weeks.
