June 10, 2020 / 7:45 AM / 24 days ago

UK retailers Monsoon and Accessorize bought out of administration by founder

LONDON, June 10 (Reuters) - British fashion retailers Monsoon and Accessorize have been bought out of administration by founder Peter Simon, said buyout vehicle Adena Brands Ltd on Wednesday.

Monsoon and Accessorize fell into administration late Tuesday after the impact of the coronavirus pandemic and the subsequent national lockdown made the 230-shop business unviable.

Adena, a company ultimately controlled by Simon, said it hoped to save both the brands and up to 2,300 jobs. (Reporting by James Davey; editing by Sarah Young)

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