Irish

Tuesday 29 July 2014

Monsoon exits examinership, with 200 jobs saved

Published 15/06/2013|04:00

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Model Orla Murphy, wearing Monsoon clothes and accessories. Monsoon's parent company has written off a debt of over €5.6m.
Model Orla Murphy, wearing Monsoon clothes and accessories. Monsoon's parent company has written off a debt of over €5.6m.

MONSOON emerged from examinership yesterday – a process that has saved 200 jobs and 11 shops in Ireland.

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Seven shops will close, including four Accessorize stores in Dublin, Cork and Limerick and three Monsoon Accessorize stores in Newbridge, Liffey Valley and Waterford. The women and children's fashion and accessories retailer had been under court protection since early March.

Yesterday's deal sees Monsoon's parent company write off a debt of more than €5.6m and agree to invest in the business to secure its long-term future.

Three outlets that were under threat of closure in Athlone, Drogheda and Cruises Street in Limerick will remain open under the plan.

Irish Independent

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