‘Dozens’ of less profitable stores could be shut as chain starts insolvency procedure
Fashion chain Monsoon Accessorize has become the latest high street retailer to deploy the controversial tactic of closing stores and seeking rent reductions in a bid to mend its finances.
Accountancy firm Deloitte has been hired to help the retailer secure a company voluntary arrangement (CVA), an insolvency procedure used by numerous struggling retailers and restaurant chains including Mothercare, New Look, Debenhams, Giraffe and Byron.
Source: The Guardian
Accessorize and Monsoon to close stores to fix finances