Peter Simon has bought Monsoon and Accessorize out of administration with cash from a new holding company in a bid to “rescue a significant number of stores”.
Monsoon and Accessorize went into administration overnight blaming the impact of store closures due to the coronavirus and the effect it had across the group’s 230-strong store estate since mid-March.
He reacquired the brands from the administrator FRP Advisory through a new holding company Adena for up to £15m, along with the head office, design teams and the group’s distribution centre in Wellingborough, Northamptonshire.
The deal will secure up to 2,300 jobs while both Monsoon and Accessorize’s ecommerce arms will continue to operate.
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