Monsoon Accessorize poised to close stores

More misery for the UK high street as retailer prepares for a CVA

Image via Retail Gazette

UK fashion and beauty retailer Monsoon Accessorize has announced plans to close stores and seek rent reductions in a bid to save the business, amid ongoing turmoil on the high street.

The chain has hired accountancy firm Deloitte to prepare a Company Voluntary Arrangement (CVA), an insolvency procedure that has been used by several retailers inlacing Debenhams and New Look to keep their businesses afloat.

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