Share and Follow
<!–
<!–<!–
<!–
<!–
<!–
Women’s clothing brands Millers and Noni B will close their doors after receivers for parent company Mosaic Brands failed to secure a buyer.
More than 250 stores, 11 of which are in New Zealand, are expected to close by April, leaving about 930 workers without jobs.
Millers and Noni B were the ASX-listed company’s last two brands after it announced last month that well-known labels Katies and Rivers would close.
‘Despite the best efforts of all parties, we have been unable to achieve a sale of any of the brands within the Mosaic portfolio,’ partner at receiver KPMG David Hardy said on Wednesday.
‘As a result, all stores in the Mosaic Brands Group will be wound down over the coming months.’
Noni B stores will close within months after parent company Mosaic Brands failed to secure a buyer
Millers stores will also shut down, leaving hundreds without a job
Sales will be held in all outlets and the timing of each store closure will depend on stock levels, with all shops expected to close by mid-April.
Mosaic went into voluntary administration in October, with KPMG partners and FTI Consulting appointed as respective receivers and administrators.
The company previously discontinued five of its signature brands – Rockmans, Autograph, Crossroads, W.Lane and BeMe – in September and closed stores as it attempted to put its finances on a sound footing.
The group had 763 stores and employed about 3000 people in Australia and New Zealand.
The company’s shares have been suspended from the ASX since September 2 because of a delay in filing its 2023/24 financial report, which was due in August.
It comes weeks after Mosaic announced that Katies (pictured) and Rivers stores will also close