Monsoon Accessorize is calling on landlords to reduce rents at more than half of its stores in return for a share of £10m future profits as the high street retailer seeks to cut costs. The retailer, founded by Peter Simon in the 1970s following a trip along the hippie trail to Asia, on Thursday said it would launch two separate company voluntary arrangements through which it will seek to lower rents at 135 out of the group’s 258 leased stores, but will not close any outright at present.
Monsoon Accessorize is calling on landlords to reduce rents at more than half of its stores in return for a share of £10m future profits as the high street retailer seeks to cut costs. The retailer, founded by Peter Simon in the 1970s following a trip along the hippie trail to Asia, on Thursday said it would launch two separate company voluntary arrangements through which it will seek to lower rents at 135 out of the group’s 258 leased stores, but will not close any outright at present.
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