Business

Monsoon seeks rent deals

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The retailer has written a letter to landlords to determine which of its 220 stores can continue operating as it battles to survive the impact of lockdown, the Telegraph reports.

Last week it emerged that Monsoon Accessorize was on the brink of administration and has lined up FRP Advisory to handle the process.

Drapers understands various parties have shown interest in acquiring the business, which is owned by entrepreneur Peter Simon and employs around 3,500 people across the UK. However, potential offers vary and some may not include its 220 stores.

It comes less than a year after Monsoon Accessorize launched a company voluntary arrangement, which allowed for rent reductions of up to 65% across more than half of its stores. At the time, around 40 of its 258 stores permanently closed.

Drapers has contacted Monsoon for comment. 

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