More than 500 jobs lost as Monsoon Accessorize shuts 35 stores
More than 500 jobs are set to be lost at fashion chain Monsoon Accessorize.The company has announced that it is closing 35 of its stores across the UK, with 545 staff to be made redundant.The losses come despite Monsoon’s founder Peter Simon buying the business out of administration almost immediately.His deal means that around 450 jobs will be transferred to another company he owns, Adena Brands.Around £15 million will be injected into Monsoon Accessorize to allow the remaining stores to stay open.Mr Simon says he hopes to save as many as 100 of the 162 remaining stores and 2,300 jobs.He said: “Ever since I opened the first Monsoon store in Beauchamp Place in 1973, this business has been my passion and my life, and I did not want to see it