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Monsoon Accessorize sale to be ‘one of many’

Monsoon Accessorize will be one of many retailers considering a sale as a result of the impact of Covid-19 coronavirus, say industry insiders.

The high street retailer’s board is looking at a “range of options” to ensure its long-term future, including a sale, after it closed all its stores in response to 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 last year’s CVA. In common with all other fashion retailers, trading has been badly affected by the outbreak of Covid-19.”

One former high street CEO said: “I think there will be a number of brands in similar situations and the lucky ones will be the ones that have strong equity and someone will see the value in that. Monsoon, had they been rocking and rolling over the past couple of years, they wouldn’t have had to do a CVA so things obviously were not brilliant.

“I think the concerning thing is there’s a potential for an orderly sales process to suddenly turn into an administration, and that’s what nobody wants to see.”

A high street CFO said: “Monsoon Accessorize have been struggling for some time, given their dependence on physical retail. The current situation is just pushing people beyond the brink of what was already a pretty tough time.

“I think the ones that are less developed online or generally a business model that’s more reliant on physical retail are going to find it hard to adjust.”

Monsoon Accessorize declined to comment further.

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