Thursday 14 December 2017

Nine Monsoon stores to close


Tim Healy

NINE stores in the women's clothing and accessories chain, Monsoon Accessorize, are to close following agreements with the landlords on repudiation of the leases for each of the premises, the High Court has heard.

Monsoon Accessorize Ireland Ltd was granted  court protection on March 13 last and an examiner appointed to prepare a survival plan.

Part of that plan includes the closure of half of its 18 stores nationwide, where 269 people are employed, and involves the repudiation by the company of the leases on those premises.

Bernard Dunleavy BL, for the company, said agreement had been reached with landlords for nine of the stores on repudiation of

leases.   The stores are in Grafton St, Dublin, Jervis and Liffey Valley Shopping Centres, Dublin, Mahon Point Shopping Centre, Cork, St Michael's Street in Waterford, Crescent Shopping Centre in Limerick, Cruises Street, Limerick, Whitewater Shopping Centre, Newbridge, Co Kildare, and Athlone Town Centre, Co Westmeath.

The court heard the landlord of a tenth store in Scotch Hall Shopping Centre, Drogheda, Co Louth, had negotiated terms to keep that store open and that it expected to be confirmed later today (Thursday).

Mr Justice Brian McGovern made orders confirming the repudiation of the leases.

The examiner has until June 12 to come up with a survival plan for the remaining stores.

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