Monsoon offers landlords share of profits ahead of CVA

Monsoon Westfield

Monsoon Accessorize has rejected landlords’ demands for an equity stake in favour of a share of future profits, ahead of its mooted CVA proposal.

The embattled fashion retailer is expected to publish the proposal for its CVA later today. Founder Peter Simon will offer store owners up to £10m a year if Monsoon’s profits can recover, Sky News reported.

The proposal has been devised by Simon as the carrot to offer disgruntled landlords, having rejected initial requests from store owners for a £30m equity package to turnaround the business.

A group of as many as six landlords – including heavyweights such as British Land and Hammerson – are being advised by PJT Partners, which also worked with them on the recent Arcadia CVA.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.