Major Aussie fashion brand enters voluntary administration

The retail industry has seen many brands enter administration or close shop.

This reflected the vulnerable state of the industry post-pandemic.

In a recent development, the parent company of homegrown clothing brands joined one of the many companies with an uncertain future.


Mosaic Brands—a fashion retailer behind brands like Millers, Rivers, and Katies—has entered voluntary administration.

The announcement affected nearly 3,000 jobs and more than 700 retail stores nationwide.

The Australian Securities Exchange (ASX) announced the brand's decision.


compressed-mosaic.jpeg
Mosaic Brands previously housed nine brands under their name. Image Credit: Mosaic Brands


The administration came after a previous announcement last month that Mosaic would shut down five of its brands—Rockmans, Autograph, Crossroads, W.Lane and BeMe.

Closing down these brands was initially a move to focus on its remaining core brands.

However, despite restructuring efforts, the company did not get the necessary support from a few key stakeholders and has faced challenges with a major government commission.


Despite entering administration, Mosaic Brands assured customers that it would continue to trade throughout Christmas and the holiday period.

Shoppers may still shop at any Mosaic Brands stores.

However, the long-term future of these brands remains uncertain.

FTI Consulting stepped in as the administrator, and KPMG will be handling the retailer's operations.

Both teams should stabilise the company and preserve the value of its brands, famous among Australians in regional areas where options may be limited.


Earlier this year, the brand faced allegations from the Australian Consumer and Competition Commission (ACCC) for breaching the Australian Consumer Law.

The brand has allegedly misled consumers about delivery times and consumer guarantee rights.

Mosaic Brands' share price also plummeted from $2.30 in January 2020 to 3.6 cents before trading was suspended in August.

This dramatic drop reflected the broader challenges the brand has been facing, including changing consumer habits, the rise of online shopping, and the economic impacts of the COVID-19 pandemic.


Mosaic Brands may close a few stores, reducing local shopping options and jobs in respective communities.

It could also result in clearance sales, offering an opportunity for bargain hunters.

Overall, Mosaic Brands' situation is a reminder about supporting local brands and stores.

The retail landscape is ever-changing, and with it, shopping habits also adapt.
Key Takeaways

  • Mosaic Brands, the company behind Australia's popular fashion brands, has entered voluntary administration.
  • The company will undergo restructuring, with FTI Consulting and KPMG overseeing the process.
  • The decision for voluntary administration came after failure to secure support from several parties and recent allegations from the ACCC.
  • Despite administration, Mosaic Brands will continue to trade throughout the Christmas season.
Have you shopped at Millers, Rivers, Katies, or any Mosaic Brands stores recently? What does this mean for your shopping habits? Share your thoughts with us in the comments below.
 
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It's no wonder they did they own far too many companies - they almost have the monopoly on the market! Plus for years i have been complaining to them that they need to sack their buyers because they are buying poor quality $h*t that the stores can't sell. You see it left there even on markdown or sales - heaps of ugly patterned material or stupid designed clothing. Particularly the up at the front-down at the back skirts; the skirts and dresses with slits to the wahzoo or shirts with one shoulder or holes in them; not forgetting the puffer vests and jackets that make everyone look like the michelin man! Plus their covid foray into homewares that were grossly overpriced.

Heck they were overpriced for all their clothes or shoes anyway and they cut out the free delivery to store for online orders and the sizing were all over the place - what fit in one brand didn't fit in another in a size.

Hope someone buys some of the brands from them and restores them to what the brands once were.
 
I have shopped at Rockmans a couple of weeks ago. I bought many clothes from Beme for years, Millers has been a favourite for 30 years and Most of my wardrobe comes from these 3 shops and I've always found them to be good quality, fir perfectly and good price.
How will aI shop without them? I always bought from KTies and loved the styling. What a shame if these have to close!
MISTYMOONBEAM.
 
Did you conveniently leave out the fact that Myer will be buying many of the brands?

Dear Bruce

You need to get the facts right first, before shouting at the SDC

Firstly Myers are not buying out the Mosaic Brand clothes which is Millers, Noni B, Rockmans , Katie's and Beme


Myers is however buying out Just Jeans, Jay Jays, Portmans, Dotti and Jacqui E

Completely different company and completely different stores

Myers The department store will purchase Premier Investments’ five apparel brands — Just Jeans, Jay Jays, Portmans, Dotti and Jacqui E — in exchange for $890 million fully paid ordinary shares in Myer
 
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Rockmans and Noni B were my go too for work clothes for over 10 years.

Very comfortable clothing.

Problems starting happening a few years ago with my online orders which either took months to turn up or didn't arrive at all. When I checked out their reviews I found there were alot of people with the same problem. Then when you calked you spoke to someone overseas who just wasn't interested .

This was pretty much when I stopped buying from them. If I did it was In-Store but even then I found the quality not as good as it used to be.

I think this is what started the fall of what was once a great clothing company
 
Rivers have said to use gift cards we have to spend double.
It’s disgusting in these hard time
Pensioners can’t do this
 
  • Wow
Reactions: Veggiepatch
As a country town in Vic. Millers is a blessing for women. We have to drive an hour or so and it's not verbal for alot off the elderly.
 
Millers is a great shop for clothes for my 91 year old Mother at a reasonable price. I will have to buy a few extras now.
 
It's the rent and labour that makes it impossible to sell at cheap prices.... unless you buy Chinese where the labour is as cheap as chips.
Nearly everything these stores sell is made in China or other Asian countries. Did you ever consider that it’s profits at the forefront of companies going bust, it‘s not just rent and labour. These conglomerates aren’t happy unless they are making BILLIONS of $s.
 
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Did you conveniently leave out the fact that Myer will be buying many of the brands?

I saw no mention of Millers, Rivers or Katies in the article. These three are what many seniors depend on on, not JayJays, Portmans or other stores mentioned in the article.

Not only that, but I saw no mention of any of the Myer takeover stores going into liquidation.
 
Millers is the only ladies clothing store in my town that everyday people can afford!
NO Kmart, NO Big W, NO Target, NO Best & Less,
We have a Locally own business, But who can afford $99 for a T-shirt?
Looks like travelling 100km to buy clothes! :unsure::unsure::mad:
And another 100km back home!

Try online buying. Once you find a brand you like, it can be
quite an eye opener. I can recommend Freez Clothing , Vine Apparel and Blue Bungalow, good luck, Lynne
 
I would shop at those shops but unfortunately none are in my town. Also the cost of living restricts me to shopping for unnecessary clothing etc. Millers was my go to shop but haven't been to one in years. It's so sad this is happening, they always had a range in sizing and clothing for all ages. Omg I can't believe that these icon companies are being removed from our lives. 😔😔😔
 
I have been shopping there for so many year and have seen the quality of clothing go down and the prices increasing. They stopped nearly all cotton clothing and used mainly polyester. The delivery was poor and items on every order were missing and it was so difficult to receive a refund. I feel for the staff but for the owners that made millions they get what they deserve. Hoping we will see a new chain of clothing opening soon at cheaper and better clothing.
 
It is hard to understand how these companies get into financial trouble; they buy cheaply from China, India, and Indonesia and sell at highly inflated prices. It's now a lot cheaper for me to buy online from China direct. I'm very sorry for the staff, but the management of these companies is to blame.
 
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I shopped at Katie's and Noni B and a few of these other stores but when they became part of Mosaic the quality fell, online orders were so late and trying to return items that looked like they'd been put together by a monkey was such a horrendous battle, I gave up and never shopped with any mosaic affiliate again.

Greed causes these places to fail as they often sell inferior quality materials and poorly made and often shapeless items at the sales. If they had stayed as individual outlets, with quality clothing they would still be selling to loyal customers.

No business can expect to get away with selling inferior items at high prices plus not honour return policies and keep customers. The Mosaic joining was a huge mistake and no one benefited from it in the end, though a lot have lost because of it.

You can only fool the public for ir so long before they take their hard earned money elsewhere.
 

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