Skip to main content

Monsoon Accessorize mulls sale as Covid-19 dents trading

// Monsoon Accessorize mulls possible sale of the business after Covid-19 disrupts trading
// Restructuring experts at FRP Advisory are currently looking at options

Monsoon Accessorize said on Sunday it had been badly affected by the coronavirus pandemic and was looking at a range of options.

A possible sale of the business is one option, as restructuring experts from FRP Advisory were drafted in to work on possible scenarios.

The fashion retailer said it had been ahead of the financial plan set out at the time of its CVA in 2019 and was trading well until March, but like many other retailers it was impacted by Covid-19 when it was forced to close stores.

READ MORE: Coronavirus: Arcadia cancels all orders until further notice

Its board is looking at a range of options, including a potential sale of part or all of the business, raising fears for the future of the retailer’s 3500 employees.

No decisions have been made at this time, although the retailer was struggling for some time and remained in a critical condition last year despite the CVA it secured in July.

Monsoon Accessorize becomes the latest retailer to have drafted in advisers to review its options amid the coronavirus pandemic, following the likes of Oasis & Warehouse.

Meanwhile, the future of Cath Kidston and BrightHouse remain uncertain.

Click here to sign up to Retail Gazette‘s free daily email newsletter

The post Monsoon Accessorize mulls sale as Covid-19 dents trading appeared first on Retail Gazette.



from Retail Gazette https://ift.tt/2yl4hJl
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
70 comments
Read more

Sagar Daryani, CEO and Co-founder – Wow! Momo & Saga: From a Kiosk to a Kingdom

Sagar Daryani’s entrepreneurial odyssey from humble beginnings to pioneering success has redefined the landscape of food startups in India. Co-founding Wow! Momo, he has spearheaded the growth of the largest indigenous QSR chain in the country, crafting a remarkable saga of triumph The Genesis: A Visionary Venture Takes Root In 2008, armed with a mere Rs. 30,000 and boundless ambition, Sagar Daryani and Binod Homagai embarked on their entrepreneurial journey while still pursuing their graduation in B.Com Hons from St. Xavier’s College, Kolkata, even before their college results were out. They knew the value for money and boot-strapped to plough back profits and grow their venture. Sagar spearheaded brand expansion, brand creation, and marketing and retail operations. Grew across the city with a strong consumer focus. The early days were hard but keeping track of the money flow was even harder. Believing in the concept of ‘1 rupee saved is 5 rupees earned’, and the lessons they lear...
1 comment
Read more

Homegrown ice cream chain HOCCO to open 250 stores, eyes Rs 400 crore by FY26

Ankit Chona, Founder and Managing Director of HOCCO, delves into the company’s revenue model, growth strategies, and vision for the future… Bengaluru: HOCCO (House of Chonas Collaborative) , the Ahmedabad-based ice cream and quick-service restaurant (QSR) chain, boasts a rich legacy spanning over 70 years, with roots tracing back to pre-independence India. The Chona family has been deeply entrenched in the food industry since 1944, originally operating in undivided Pakistan. Following the Partition, Satish Chona , an engineer with British Overseas Airways Corporation, relocated from Karachi to India. After journeying through multiple cities, he ultimately settled in Ahmedabad, where he established his first QSR outlet in 1953. Three decades later, he expanded into the casual dining segment, launching a restaurant in Baroda while continuing the family’s ice cream manufacturing business. However, in 2017, the company sold its ice cream division to a South Korean firm, shifting its fo...
Post a Comment
Read more