Monsoon Accessorize teeters on brink putting 3,500 jobs at risk

Monsson Accessorize

Monsoon Accessorize is on the brink of becoming the latest retailer to tumble into administration amid the coronavirus crisis, putting 3,500 jobs at risk.

The fashion retailer has lined up FRP Advisory to handle the process and plans to file a notice of intention to appoint administrators in the coming days, Sky News reported.

Monsoon Accessorize’s 220 stores have been closed since March as a result of the pandemic. Owner Peter Simon has been seeking a sale of the business since then but is yet to find a buyer, though he is understood to be in talks with a number of potential bidders.

Simon could yet buy back a portion of the business, should it collapse.

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