Poor trading figures for fashion chain
High street fashion chain Monsoon has announced that chairman Peter Simon has formally withdrawn his interest in buying back the 24.6 per cent share of the business not already owned by his family.

Preliminary discussions were first entered into in July last year. However, Monsoon has since reported poor autumn and winter trading figures.

On January 16, the company announced that trading had been difficult throughout autumn and it entered the winter sale with significantly higher-than-expected stock levels. Like-for-like sales for the past 10 weeks were down 4 per cent.

Monsoon announced today that it expects full-year results, which are announced on May 27, to be adversely affected by the recent trading slump. However, pre-tax profits are not expected to dip below£53.1 million.

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