"The UK Retail Trading Environment is Tough" - Monsoon Accessorize Spokesperson, As Company Mulls CVA

Monsoon Accessorize, owned by its founder Sri Lanka-born Peter Simon, who was inspired to start the company following a road trip, declared via a spokesman that "The UK retail trading environment is tough" and in a bid to reduce costs will continue to reduce its store portfolio. Deloitte has been hired to help the firm negotiate a CVA or company voluntary arrangement, a controversial insolvency procedure used by firms like Debenhams, New Look, Mothercare and Byron in recent years.