The remaining key retail brands under the Mosaic Brands portfolio - Millers and Noni B - will be wound down following attempts to sell off the assets.
This follows previous announcements regarding the recent closure of the Katies and Rivers brands.
The wind down of Noni B and Millers will result in the closure of 252 stores – including 11 in New Zealand – and will directly impact 933 employees.
KPMG partners David Hardy, Gayle Dickerson, Ryan Eagle and Amanda Coneyworth were appointed as receivers of the Mosaic Brands Group entities on October 28 last year.
At the same time, FTI Consulting’s Vaughan Strawbridge, Kate Warwick, David McGrath, and Kathryn Evans being the appointed voluntary administrators.
Following initial reviews by administrators, it was found the group owed around $250 million in liabilities.
“Despite the best efforts of all parties, we have been unable to achieve a sale of any of the brands within the Mosaic portfolio,” Hardy said. “As a result, all stores in the Mosaic Brands Group will be wound down over the coming months. We expect all stores will be closed by mid-April.”
“The receivers would again like to acknowledge and thank the Mosaic management team, employees, customers and suppliers for their support throughout the receivership process.”
The exact timing of individual store closures will vary and be dependent on stock levels and sell through.
A spokesperson for FTI Consulting told Ragtrader that the voluntary administrators' focus now is to finalise their investigations and report to creditors.
"As the Receivers have indicated all stores will likely be closed during April, the second meeting of creditors is likely to be called and held in May.”
Sale events and promotions will be run in all stores and the receivers encourage customers to visit their local store or the ecommerce site while stocks last.