The beauty salon is to be auctioned off by Cosmo Beauty Salon and Spa in a deal worth £1 million to a charity of Holly’s name.
Holly’s, the UK’s largest beauty salon chain, was bought by the cosmetics company from beauty giant Lush in 2015 for £8 million.
Hollys, which was founded in 1964, is one of the UKs oldest and most well-known beauty brands.
The cosmetics company’s sales in the UK rose by 30 per cent last year to £2.7bn, with cosmetics sales in China making up 10 per cent of total sales.
Holly has a history of supporting charities and is a regular attendee at UK beauty events.
In February, Holly announced it would end its charitable relationship with the National Health Service, saying it was “time for a change”.
“We have been a proud and valued part of the National NHS since our foundation, and will continue to do so for the foreseeable future,” it said.
“We are proud of our role in helping people with illnesses and disabilities live their lives to the fullest.”
In June, the company announced it was pulling its support for the NHS’s National Health Checkpoint scheme, which aims to help people who are eligible for the scheme get health checks and services.
Holly is now planning to sell the cosmetics chain.
“The Holly’s beauty brand has been a hugely significant part of our family for more than 80 years, and we will be selling it to a private buyer,” a spokeswoman said.
Holly was founded by Lush founder Jane Addams in 1964 and became one of UK’s biggest beauty brands in the 1980s.
In 2013, the cosmetics giant announced it had decided to sell its beauty empire to Lush.