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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.

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



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