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Coronavirus: Monsoon Accessorize mulls sale

Monsoon Accessorize is considering a sale of the business as a result of the impact of the Covid-19 coronavirus outbreak.

The board is looking at a “range of options” to ensure the retailer’s long-term future after it closed all of its stores because of the coronavirus pandemic.

A spokesman said: “Monsoon and Accessorize were trading well until the start of March, ahead of last year and ahead of the financial plan set out at the time of last year’s CVA. In common with all other fashion retailers, trading since then has been badly affected by the outbreak of Covid-19, with the company facing significant pressure on revenues after shutting all of its stores.

“As a result, the board is looking at a range of options to secure the business’s long-term future in these exceptionally difficult times. These options include a potential sale of some or all of the business. No decisions have been made about the timing or nature of any steps the business may take.”

Last week, the retailer wrote to landlords saying it would not pay rent across its portfolio for the Next three months as a result of Covid-19, adding: “As soon as the situation returns to relative normality, we will return to paying rent and at that time will provide proposals to make up the rent shortfall.”

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