Several of the UK’s largest landlords, including Hammerson and British Land, have taken issue with Monsoon Accessorize’s handling of discussions around its long-mooted CVA which it is expected to unveil tomorrow.
One source close to a large landlord accused Monsoon of a “disappointing” lack of engagement with creditors over the last few weeks, as the embattled fashion retailer has sought to slash rents on around two-thirds of its 270-strong store estate.
Another source cast doubt on whether Monsoon Accessorize’s financial position was bad enough for it to need to resort to a CVA and would be studying the proposal to ensure the insolvency tool was being used “in the right way”.
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