Lookfantastic is THG's online pure-play specialist beauty retailer.
Private equity firms such as Advent International and Leonard Green have expressed interest in purchasing THG, according to City A.M.
The e-commerce retailer reportedly is in financial trouble over its corporate governance, cashflow and value of its tech arm Ingenuity, the publication reports.
THG's shares have reportedly declined 81%, compared to one year ago.
THG is the owner of Cult Beauty and Dermstore, among other entities.
