‘We have been unable to achieve a sale’: Why two popular chains are closing for good
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A major shake-up in the retail world has left shoppers wondering what comes next.
What began as a routine business move has now led to the closure of some long-standing stores, sending ripples through the industry.
The repercussions are far-reaching, but what does this sudden shift really mean for the future of shopping?
Mosaic Brands, the company behind popular Australian retailers such as Millers and Noni B, has announced the closure of its remaining stores.
The two chains, along with Rivers, will be completely shut down by April after receivers failed to secure a buyer for the group.
The closures will result in the loss of 252 stores and 933 jobs.
Receiver David Hardy from KPMG shared: 'Despite the best efforts of all parties, we have been unable to achieve a sale of any of the brands within the Mosaic portfolio.'
The closure announcement follows the recent shutdown of other Mosaic brands, including Katies, Rockmans, Autograph, Crossroads, W Lane, and BeMe.
Hardy confirmed: 'As a result, all stores in the Mosaic Brands Group will be wound down over the coming months. We expect all stores will be closed by mid-April.'
The decision came shortly after the announcement of the end of the men’s clothing chain Rivers, also part of the Mosaic group.
Mosaic had entered voluntary administration in October, initially planning to wind down five of its chains: Rockmans, Autograph, Crossroads, W Lane, and BeMe, with the focus shifting to its remaining brands.
However, all of these brands, including Rivers, Millers, and Noni B, will now be shuttered.
The receivers acknowledged the support received from the management team, employees, customers, and suppliers during the process, expressing gratitude for their cooperation.
Closing down sales will occur at individual stores depending on stock levels, with each location's closing scheduled at different times.
In a previous story, we detailed the closure of Rivers, another beloved brand under the Mosaic umbrella.
All 136 stores across Australia were set to shut down, leaving approximately 650 employees without jobs after receivers failed to secure a buyer.
For more on how this affects both employees and the wider retail industry, be sure to read the full article here.
With so many closures happening, how do you think this will impact local shoppers and the retail industry as a whole? Share your thoughts in the comments below!
What began as a routine business move has now led to the closure of some long-standing stores, sending ripples through the industry.
The repercussions are far-reaching, but what does this sudden shift really mean for the future of shopping?
Mosaic Brands, the company behind popular Australian retailers such as Millers and Noni B, has announced the closure of its remaining stores.
The two chains, along with Rivers, will be completely shut down by April after receivers failed to secure a buyer for the group.
The closures will result in the loss of 252 stores and 933 jobs.
Mosaic Brands to close stores, jobs lost nationwide. Image source: Instagram/boovalfair/strathpinecentre
Receiver David Hardy from KPMG shared: 'Despite the best efforts of all parties, we have been unable to achieve a sale of any of the brands within the Mosaic portfolio.'
The closure announcement follows the recent shutdown of other Mosaic brands, including Katies, Rockmans, Autograph, Crossroads, W Lane, and BeMe.
Hardy confirmed: 'As a result, all stores in the Mosaic Brands Group will be wound down over the coming months. We expect all stores will be closed by mid-April.'
The decision came shortly after the announcement of the end of the men’s clothing chain Rivers, also part of the Mosaic group.
Mosaic had entered voluntary administration in October, initially planning to wind down five of its chains: Rockmans, Autograph, Crossroads, W Lane, and BeMe, with the focus shifting to its remaining brands.
However, all of these brands, including Rivers, Millers, and Noni B, will now be shuttered.
The receivers acknowledged the support received from the management team, employees, customers, and suppliers during the process, expressing gratitude for their cooperation.
Closing down sales will occur at individual stores depending on stock levels, with each location's closing scheduled at different times.
In a previous story, we detailed the closure of Rivers, another beloved brand under the Mosaic umbrella.
All 136 stores across Australia were set to shut down, leaving approximately 650 employees without jobs after receivers failed to secure a buyer.
For more on how this affects both employees and the wider retail industry, be sure to read the full article here.
With so many closures happening, how do you think this will impact local shoppers and the retail industry as a whole? Share your thoughts in the comments below!
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