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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Well there goes our affordable clothing stores. What will happen now? This country is going downhill fast. High prices for everything. How much longer can we afford to live in this country?
 
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!
ever heard of shopping on line. I do not go to shops. EVER
 
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Reactions: Littleboy8
Could you please direct me to the fitting room in an online store?

Two of the most difficult items of clothing to fit are bras and shoes. How anyone would even consider purchasing these online is beyond me for a myriad of reasons.
i buy from myers and i am able to return bras etc, always look for the returning of products. DUH! other companies are the same.
 
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Reactions: Littleboy8
If it wasn't for their buyer Scott they would still be okay....he is responsible for the closure of the crossroads store I managed in the Arndale shopping centre when he helped the NoniB group take over the SFG Brand's and then helped Mosaic take over the NoniB brands and now look what has happened... Hopefully some decent company will rescue at least the Millers and Rivers brands....your a snake Scott 🤬
 
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Reactions: Penny4
Yes I’ve shopped with them, but stopped a year or more ago, when t

Could you please direct me to the fitting room in an online store?

Two of the most difficult items of clothing to fit are bras and shoes. How anyone would even consider purchasing these online is beyond me for a myriad of reasons.
Oh Neale you are so funny! Debra l think you need to stop Neale from trying on your bras.First dresses now bras next he will be in your knicker draw ❤️ :ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO:
 
  • Haha
Reactions: Veggiepatch
I used to buy most if my clothes at these stores UNTIL they all started using poor quality fabric. I simply don’t like the feel or durability of the their clothes now. I prefer to make my own. Unfortunately, good old fashioned fabric stores are in scarce supply these days.
 
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Reactions: chrissie2700
Myer is NOT buying any Mosaic Brands. Solomon Lew is taking his brands (Dottis, Just Jeans Jacquie E, Portmanz etc into Myers.

Nothing to do with Mosaic Brands. So ni doubt, that'll be around 1400 stores that will disappear from shopping centres and around 7000 employees who lose their jobs. Unless, of course, buyers can be found fir any if the Mosaic brands. Only time will tell.
I didnt think solomon would still be around as he seemed older to me when I was 19.
 
I used to buy most if my clothes at these stores UNTIL they all started using poor quality fabric. I simply don’t like the feel or durability of the their clothes now. I prefer to make my own. Unfortunately, good old fashioned fabric stores are in scarce supply these days.
Yes it has been a major disappointment, I think perhaps that it's as they are even made cheaply overseas.
 
If it wasn't for their buyer Scott they would still be okay....he is responsible for the closure of the crossroads store I managed in the Arndale shopping centre when he helped the NoniB group take over the SFG Brand's and then helped Mosaic take over the NoniB brands and now look what has happened... Hopefully some decent company will rescue at least the Millers and Rivers brands....your a snake Scott 🤬
Arndale Brisbane? They also had visions of only being online as well. So many Millers stores closed as well as Rockmans.
 
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!
Mosaic are still selling their brands online, you can purchase most of them from the Eazy Buy website, I used to buy a lot from them but their website is now a very hit and miss affair and their customer service is virtually non existent, purchase at your own risk. Since being put under the Mosaic brand the quality of the clothing has gone down hill big time, mens jeans from Rivers are nothing like they were a few years ago, the denim is very thin and cheap and the usual sizing is wrong.I have no idea where to get my husbands jeans from now without paying an over the top price at Jeans West etc, I have looked at Kmart but find their denim is the same thin and cheap looking variety as Rivers Jeans are now.
 

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