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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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.
How about shopping online???
 
I do all my shopping at Millers for cloths as they have the larger size for me, and they last a lot longer that some of the other brands. I feel disappointed as I use to go to the larger town to purchase cloths when I do my shopping. The town i live near has not got any cloths stores.
 
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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.
I refer to small businesses.
Big business is another question..... all sorts of skulduggery goes on behind the scenes...
 
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I have been a big fan of Rivers menswear for years but recently I have had to return things as they were not the size as per the label on the garments. The sales assistants at the store told me that for some months now this had been an annoying problem and they were being constantly harassed by customers because of it. I must get over to my local store and use up a credit note that I have been issued with as a result of a recent return before it is to late to do so!
Over the years I have been customer of Rivers. I always liked the shirts and shoes that were on offer. I always tried on everything before buying because you could never go by the size tag on anything.
If Rivers go down I will miss them.
 
Please no, don't close down Millers, they are a very good Store for people to shop at, always greatcoats & nice clothes.
 
Did you conveniently leave out the fact that Myer will be buying many of the brands?

Perhaps it is time everyone learned to choose the right words, on this forum and especially towards staff trying to report as accurately as possible. It may be true, I don’t know, that Myer will be buying many of the brands, but there is no need for a comment such as “did you conveniently leave out the fact” - especially the word ‘conveniently’.

Staff of SDC, I am sure, do their very best to give us as much information as possible and they would most probably have less than 24 hours in which to re-write the information they give us without infringing on copyright of the original writer.

Perhaps, BruceC, you could have re-worded your comments to read “I have READ Myer will be buying many of the brands” and not “did you CONVENIENTLY leave out …..”.

I have had a quick glance at the article YOU posted and did not see anything mentioned about the specific stores or some of the brands mentioned in SDC’s article. Don’t forget direct word for word copying and infringement of information whenever anyone posts what someone else has originally posted.

The rudeness of so many here does not say much about those who think they know everything. Think before putting your fingers on the keyboard, everyone. You can always re-read and edit before posting without being rude. And even then you can edit, even after posting, to keep rudeness and sometimes vulgarity off this site.
 
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Arndale Brisbane? They also had visions of only being online as well. So many Millers stores closed as well as Rockmans.
Penny4 it's the Arndale shopping centre in Kilkenny Adelaide ...we had Crossroads until they closed, Rockmans, Rivers and Millers are still open and NoniB, and W Lane are incorporated into the Rockmans store...it's a real shame what Scott has done to these companies because of a personal gripe 🤬
 
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Penny4 it's the Arndale shopping centre in Kilkenny Adelaide ...we had Crossroads until they closed, Rockmans, Rivers and Millers are still open and NoniB, and W Lane are incorporated into the Rockmans store...it's a real shame what Scott has done to these companies because of a personal gripe 🤬
It is a real shame. So many women buy their clothes from those stores. My friend moved to Sydney and worked in head office there before they changed to Mosaic. She lost her customer service job due to transferring it to the Philippines to save costs. Consequently, stores and customers had/have to deal with people in the Philippines answering their queries.
 
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Penny4 it's the Arndale shopping centre in Kilkenny Adelaide ...we had Crossroads until they closed, Rockmans, Rivers and Millers are still open and NoniB, and W Lane are incorporated into the Rockmans store...it's a real shame what Scott has done to these companies because of a personal gripe 🤬
Scott Who and what personal gripe???
I hate linen, it always looks like you slept in it.
Most of the so called "Linen "clothes being sold are not even a Cotton blend but a mix of Cotton and Rayon, hence the horrible creasing, I wont buy it as it means ironing which I am seriously averse to!
 
Scott Who and what personal gripe???

Most of the so called "Linen "clothes being sold are not even a Cotton blend but a mix of Cotton and Rayon, hence the horrible creasing, I wont buy it as it means ironing which I am seriously averse to!
Linen clothes are usually linen and viscose. I had a look on Temu and their women's linen shirts are linen and polyester.
Everybody's different, but I can't stand synthetics on my sensitive skin. 100% Cotton or linen for me. I don't get out my ironing board. I use a hand held steam iron. So quick!
 
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I will be very disappointed to miss out on Millers and Katies shopping. I'm still not a huge fan of online shopping just because of the extra postage for every product from different suppliers. Half the time the sizing or colour or something is incorrect and then it costs to return and exchange it. It makes it very difficult for seniors.
 
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