More than 30 Monsoon and Accessorize stores could shut under the retailers restructuring proposals even though the company has stressed its plans involve no immediate closures.
Monsoons proposed company voluntary arrangement, unveiled last week, envisages rent cuts of up to 65 per cent at 135 of its 258 stores. However, 36 of those will move to zero rent after a period of six months and could be closed at short notice by either the company or its landlords, according to a creditor document seen by the Financial Times.
The proposals will enable Monsoon to have flexibility, and a period of time, to determine whether the premises can be financially viable in the circumstance, the document stated. The stores affected include high-pro…
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