Millers and Noni B to be wound up as receivers for parent company Mosaic Brands fail to secure buyer

[Pelican Press 0]

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Millers and Noni B to be wound up as receivers for parent company Mosaic Brands fail to secure buyer

The axe has been swung on fashion brands Millers and Noni B, with hundreds of stores to close and more than 900 jobs to be made redundant.

The downfall of the two chains was confirmed on Wednesday by receivers and managers of parent company Mosaic Brands Group, and comes a week after it was announced

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“Despite the best efforts of all parties, we have been unable to achieve a ***** of any of the brands within the Mosaic portfolio,” KPMG partner David 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.”

In all, 252 stores — including 11 in New Zealand — will be shut down, with the decision impacting 933 workers.

“The receivers would again like to acknowledge and thank the Mosaic management team, employees, customers and suppliers for their support throughout the receivership process,” David Hardy said.

The timing of individual store closures will differ and sales events will be run while stocks last.

– More to come . . .

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