Word is that Monsoon had advised landlords of its stores that it would not be paying any rent for the next three months as none would be able to trade as a result of anticipated government measures which would lead to store closures in a bid to help contain the spread of coronavirus. Monsoon has also insisted on an extension to its payment terms from suppliers from 90 days to 120 days for goods taken into its warehouse.
Market watchers say that Monsoon has little, if any chance of long term survival as a profitable business and that these actions together with the support it can claim from the government in the short term will merely delay its demise.
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