Piles of debt and no future certainty have been the fatal blows for a stable of well-known Australian clothing brands as the parent company officially goes bust.
Retail giant Mosaic Brands – owner of Millers, Rivers, Crossroads, Katies, Noni B and Autograph – collapsed into voluntary administration in October 2024.
In a notice to creditors delivered last week, Mosaic’s total debt seems to have been finally tallied at more than $318m.
More than 2800 staff who worked across Mosaic’s Australian and New Zealand stores are owed $22m and receivers and managers KPMG say this will likely be paid in full.
Secured creditors are likely to see the $54m they are owed. But the collapse has left a $242m hole for 613 unsecured creditors, and…
