The Body Shop, founded by businesswoman and activist Dame Anita Roddick in 1976, went into administration in February after previous forecasts for how much funding it would need to keep going proved too low.

It resulted in a slew of store closures and job losses among them branches in Didcot and Banbury.

The future of The Body Shop at the Westgate in Oxford has been secured (Image: Contributed)

However, a rescue bid from a consortium led by British tycoon Mike Jatania means there are now no immediate plans to shut any of its 116 remaining UK stores, including at the Westgate.

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Mr Jatania’s investment firm Auréa announced the completion of the acquisition last week, all but securing a future for 1,300 workers.

He and Charles Denton, the former chief executive of beauty brand Molton Brown, will head up the Body’s Shop’s leadership team.

Mr Jatania said: “With the Body Shop, we have acquired a truly iconic brand with highly engaged consumers in over 70 markets around the world.

“We plan to focus relentlessly on exceeding their expectations by investing in product innovation and seamless experiences across all of the channels where customers shop while paying homage to the brand’s ethical and activist positioning.”

The Body Shop was the original green beauty brand, however, it has faced increasing competition, in particular from High Street rival Lush.

Mr Denton, chief executive of the Body Shop, said: “We believe there’s a sustainable future ahead and working closely with the management team we aim to restore the Body Shop’s unique, values-driven, independent spirit.”