Australian fashion retailer Mosaic is closing one of its most well-known brands as receivers try desperately to save the company that's been on the brink of collapse for months.
that the company would be winding back some of their retailers, including Rivers and Millers in an attempt to save them.Rivers will join Katies, Rockmans, Autograph, Crossroads, W Lane and BeMe in the retail graveyard of brands axed by the company.
"Unfortunately, a sale of Rivers was not able to be achieved...this means the Receivers have made the difficult decision to wind down this iconic Australian brand," KPMG Receiver and Turnaround & Restructuring Partner David Hardy said. They are now working on securing a buyer for Millers and Noni B - the last brands remaining in the Mosaic Portfolio.
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