Some described Mosaic as a “predator”. Omar Chowdhury, managing director of Bangladeshi garment manufacturer Hydroxide Knitwear, said some factory workers were on the verge of suicide.
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In a report to creditors, FTI Consulting suspected that the company may have been trading unlawfully and directors could be potentially liable for breaches of duty.
However, the liquidators said further funding was required to properly investigate and pursue these findings, which never emerged.
“Our preliminary view is the Mosaic Group was likely insolvent as at 31 December 2020 and remained so up until the time of our appointment on 28 October 2024,” FTI Consulting’s second report to creditors said.
One or more company directors may have…