Business
Mosaic Brands, owner of Noni B, Rivers and Katies, to close up to 500 stores as COVID-19 bites – ABC News
Fashion retailer Mosaic Brands is threatening to close more than a third of its stores over the next two years, as it posts a loss from the hit of bushfires and COVID-19, and following a rent dispute with Westfield’s owner Scentre Group.
The retail group behind clothing brands Rivers, Millers, Katies and Noni B plans to shut up to 500 stores following the financial blow of bushfires and COVID-19, amid an ongoing dispute with a major landlord.
Key points:
- Mosaic Brands has threatened to permanently close hundreds of stores when leases expire over the next two years
- 129 of the retailer’s stores are shut in Westfield shopping centres amid a dispute with landlord Scentre Group
- Mosaic swung to a loss of $170…
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