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British Land drops bid to derail Monsoon rent cuts

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The FTSE-100 property company has agreed to withdraw a legal challenge to Monsoon Accessorize’s CVA, Sky News understands.

A separate dispute between British Land and Mr Simon's private property company Adena relating to Monsoon's former head office was said to be unrelated to the CVA challenge.The dispute made Monsoon Accessorize one of several prominent high street names to face opposition to a rescue plan.

Sir Philip Green, the Topshop tycoon, agreed to pay millions of pounds last month to settle a complaint made by two US funds about the restructuring of his Arcadia empire.

 

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