Monsoon and Accessorize stores saved

Saturday 04 July 2020

Monsoon and Accessorize stores across the Channel Islands are among the 157 stores saved from closure after the chain went into administration, it has been confirmed.

At one point, the stores in Guernsey and Jersey were set to close, but a spokesperson for the brand confirmed to Express this week that they have now been saved after the company’s founder intervened, and new agreements struck with landlords.

The high street clothing and accessories brand went into administration earlier this month, with the pandemic and accompanying lockdown being touted as the reason for its difficulties after lockdown forced the stores to close for three months.

Parts of the business were recouped when founder Peter Simon used £15million of his own cash to keep the brand going.

As reported in the Telegraph, the retailer is now set to keep more stores open across the nation after having secured new arrangements with landlords to switch to new turnover-based rents.

It’s now hoped that Monsoon Accessorize will be able to keep 157 of the company’s 230 outlets open, saving thousands of jobs in the process.