Provisional liquidator appointed to Monsoon Accessorize – RTE.ie

The High Court has appointed a provisional liquidator to the Irish arm of the woman’s fashion retailer Monsoon Accessorize.

The retailer, which operated 10 stores in Ireland and had 140 employees, sought the winding up orders in respect of both Monsoon Accessorize Ireland Ltd and its holding company Monsoon Accessorize Ireland (Holdings) Ltd. 

The retailer specialised in women’s clothing and accessories.

Seeking the provisional liquidator’s appointment Rossa Fanning SC, appearing with Stephen Byrne Bl, for both companies said while they had experienced trading difficulties in the recent past Covid19, which resulted in stores being closed,  was “a game changer”.

The firms made losses in 2018 and 2019, but the predicted loss in revenues arising out of the shutdown were expected to be very significant, the court heard.

Sales for figures for the period 1 March to date for 2020 were down approximately 92% from the same period last year.

Counsel said

Continue reading this atricle at https://www.rte.ie/news/business/2020/0623/1149251-liquidator-appointed-to-monsoon-accessorize-in-ireland/