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Monsoon landlords demand equity stake

Four property companies have reportedly demanded an equity stake in Monsoon Accessorize in return for supporting a company voluntary arrangement (CVA).

British Land, Hammerson, M&G Investments and Roubaix Group have been negotiating with Monsoon owner Peter Simon in the hopes of securing improved terms in a proposed CVA.

The property companies have written to Simon to request a shareholding in the business if they agree to rent cuts for Monsoon and Accessorize stores, Sky News reported.

It follows reports earlier this week that Simon plans to inject £34m into the struggling business if landlords agree to the rent cuts.

The retailer appointed consultancy firm Deloitte in April to look at options to reduce overall costs as it restructures the business in the UK and internationally.

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