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Optimism for Island jobs as Monsoon saved from administration

Credit: Google maps

Company, including Accessorize, went under last night

There's optimism for Manx jobs as Monsoon has been saved from administration.

The company, including Accessorize, went under last night (9 June), after the impact of the Covid-19 lockdown.

However since then, the business has been acquired by Adena Brands Limited, which is ultimatey controlled by businessman and Monsoon founder Peter Simon.

The buyout is set to save as many as 2,300 jobs across Britain's 230 stores.

Adena has now made a deal, which includes a cash injection of £15 million by Peter Simon.

When asked about the impact on the store in Douglas, a company representative said "Adena Brands will now enter talks with the landlords of many Monsoon and Accessorize's stores to see if they can reach terms to reopen them when the current lockdown ends to secure further jobs."

The new group hopes to be able to save 100 stores, but it's currently unclear whether this will include the Isle of Man.

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