Northants distribution centre changes hands as Monsoon Accessorize sold out of administration

Monsoon Acessorize’s distribution centre in Wellingborough has been sold in a deal which has seen the high street brand bought out of administration.

The swoop by Adena Brands means the firm can continue to trade online while discussions continue over its bricks and mortar sites.

The transaction includes the sale of the brands and intellectual property, the head office and design teams, the group’s distribution centre in Northamptonshire, as well as the transfer of around 450 jobs. As part of the deal, Adena Brands – headed by entrepreneur Peter Simon – has provided a £15m cash injection into the businesses to ensure that it can continue to trade.

Shoosmiths advised the administrators, led by national head of corporate restructuring and advisory James Keates. Partners Tony Wright and Alastair Massey of FRP Advisory were appointed as joint administrators.