Monsoon Accessorize has permanently closed 35 stores and axed more than 500 jobs as it bounced in and out of administration.
The Dundee branch of Accessorize in Commercial Street is not one of the shops that will immediately close in the pre-pack administration process.
The beauty chain said coronavirus had thrown its turnaround plan off course and that the restructure would mean 545 staff lose their jobs.
The business was bought by Monsoon’s founder Peter Simon who has pledged to inject £15 million into the business to allow the remaining stores to stay open.
Mr Simon will try to renegotiate with landlords to get a better deal on the remaining 162 store leases.
Formerly a majority owner of the business, Mr Simon agreed with administrators he would buy the business almost as soon as it slid into the process on Monday.
He said: “Ever since I opened the first Monsoon store in Beauchamp Place in 1973, this business has been my passion and my life, and I did not want to see it fall victim to this unprecedented crisis.”
The firm had insisted a turnaround plan was going well after it negotiated a company voluntary arrangement with landlords.
However while the business was trying to heal, all of its stores were forced to close as Covid-19 hit the country.
“Both Monsoon and Accessorize were trading well before the coronavirus pandemic but the business simply could not withstand the financial impact of having to close all its UK, franchise and joint venture stores for almost three months,” Mr Simon said.
“This deal secures the future of both Monsoon and Accessorize and means we can continue to serve our customers online without a pause.
“In addition, we will now try to save as many of our stores as possible, depending on the outcome of various discussions with landlords.
“I would like to thank landlords for the helpfulness and enormous forbearance they have shown so far, which has enabled us to get to this point.”
Full list of stores to close:
Basildon
Bexleyheath
Burton-on-Trent
Camberley
Canterbury
Carlisle
Chelmsford
Cork
Patrick Street A, Republic of Ireland
Cork
Patrick Street B, Republic of Ireland
Crawley
Derby
Dublin, Republic of Ireland
Hereford
Hitchin
Huddersfield
Kilkenny
Lancaster
Lincoln
Liverpool Airport
Maidenhead
Maidston
Middlesbrough
Newark
Newtownabbey
Northampton
Southend
St Albans
Staines
Sutton Coldfield
Taunton
Telford
Trowbridg
Truro
Tunbridge Wells
York Davygate
