Mosaic Brands,the retailer that owns clothing brands such as Katies,Millers and Noni B,will continue to trade. But the administration process puts at risk the jobs of almost 3000 employees.
Will the billionaires behind the Spotlight group be the White Knight that Mosaic Brands needs?
Embattled budget retailer Mosaic Brands,which operates Katies and Noni B,announced it would be shutting down the Rockmans,Autograph,Crossroads,W.Lane and BeMe brands.
Mosaic Brands,which employs 4000 staff in its stores such as Katies,Rockmans and Noni B,is struggling. To secure its own survival,it appears willing to sacrifice its global suppliers.
The full potential of Baby Boomer shoppers remains untapped by Australian fashion labels.
The $7.6 million company was forced to reveal it is seeking advice from Deloitte as it struggles to make sales.
The budget fashion brands retailer sent out hundreds of thousands of items more than 20 days after customers had ordered them,and in some instances,not at all.
Erica Berchtold was due to begin at Best&Less last September,but has now ended up at as head of Mosaic Brands instead.
A slew of data in July made it clear what the retail sector is facing – and yet,there could be some winners.
The boss of Rivers and Noni B operator Mosaic Brands says the group’s core customers – the over-50s – are still spending,even if conditions are slowing.
The retail group whose stores include Millers,Rivers,Katies,Rockman,and Noni B has pleaded guilty to underpaying long service leave to 223 staff.