Monsoon Accessorize, which owns two of the renowned British clothing chains Monsoon and Accessorize, may end up saving more of its stores.
Following landlords’ agreement to shift to turnover-based rents, the retailer has announced that it may now reopen 57 more stores.
Previously, it had planned to reopen only 100 of its 230 stores, but now after successful talks with landlords, the total numbers could go up to 157 – that’s saving almost 2,400 jobs.
FRP, which is still the administrator, said that all the stores will reopen by end of this month.
Only last month, Monsoon Accessorize had fallen into administration following the pandemic crisis, but within a day its founder Peter Simon acquired the retailer through his Adena Brands though that deal did not include the stores.
While thanking the landlords for their support and understanding, Peter said both Monsoon and Accessorize will continue to have its strong presence on the high street.
The retailer also made it clear that of the stores that are going to reopen, only 6 to 10 will be Monsoon stores, while the remaining would be Accessorize stores.
With lockdown restrictions to further relax in England from 4 July, the retailer hopes sales would get a boost.
Known for its apparels and accessories, Monsoon Accessorize generates turnover of £296 million.