Monsoon Accessorize to close 141 stores

Monsoon Accessorize has decided to close 141 of its largest shops, in a move that may impact hundreds of jobs.

The fashion retailer has decided to shut down stores that include both the Monsoon, its women’s’ clothing brand, and Accessorize, its fashion accessories division which mostly sells jewellery.

While the company is looking to open separate Monsoon and Accessorize shops to replace the joint outlets, it is possible many may lose their jobs.

Monsoon Accessorize has 5,500 employees across the UK and has more than 300 shops.

The Guardian reported that a source close to the company said the crossover between Monsoon and Accessorize customers was “actually lower than you would think”.

Monsoon is said to attract slightly older customers than Accessorize.

The decision to close joint Monsoon and Accessorize comes as part of company-wide restricting under new chief executive Paul Allen.

His strategy marks a stark contrast to former boss John Browett, who expanded the number of joint Monsoon and Accessorize stores. Browett stepped down as chief executive of Monsoon Accessorize’s early last year.