Monsoon accessorizes on the brink, putting 3,500 jobs at risk | Business

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Monsoon Accessorize is about to call administrators, which would put 3,500 retail jobs at risk.

The fashion chain, which operates about 230 stores, is expected to file a notice of intent to appoint directors – a legal process that protects the company for 10 days from creditors – as of Friday, according to Sky News.

Retailer founder Peter Simon is believed to be considering another bailout deal despite paying the company £ 12 million last year as part of a package involving the closure of around 40 stores. . He also pledged to cut the £ 5 million rent for the London-based fashion company’s head office in London by half, to cut costs.

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