Body Shop International, the UK retailer, is still looking for a buyer after the failure of its talks with Grupo Omnilife of Mexico, according to sources close to the company.

Morgan Stanley, which advised the company during the talks, is likely to be involved in any eventual deal. ABN Amro Hoare Govett, the company's long-standing broker, has also been working for the company. Omnilife, which offered £290m (€476m) for the company, had not appointed any advisers and had not started due diligence work. JP Morgan and UBS Warburg had pitched for the business according to insiders.