Mosaic news and archive

Australian fashion giant Mosaic Brands bankrupt, Noni B and Millers disappear

Australian fashion chains Noni B and Millers are closing their doors after the receivers of parent company Mosaic Brands failed to find a buyer, according to Australian press, including Business News Australia. About 933 employees will lose their jobs as a result of the closures. Noni B grew to become one of the largest womenswear retailers in...

Member

Business

Australia's Mosaic Brands to analyse use of ‘safe harbour’ provisions

Australian fashion group Mosaic Brands has confirmed in a stock market filing that it is analysing the use of safe harbour provisions as it continues to tackle operational issues impacting financials. The statement came in response to a report by The Australian Financial Review, which has initially stated that the company had already entered a...

Fashion

Mosaic collapse to affect high street rents

Britain's landlords could be forced to accept cut-price rents on more than 500 high-street shops across Britain as Mosaic, the owner of Karen Millen and Principles, collapses into a prepack administration on Monday. Kaupthing, the Icelandic bank owed £400m by Mosaic, will immediately buy back four of Mosaic's key brands - Karen Millen, Coast,...

Fashion

UK fashion group feels pinch

The owner of Karen Millen, Oasis and Principles is poised to begin crunch talks with its lenders in a desperate attempt to secure the long-term future of the company. Mosaic, part-owned by Icelandic investor Baugur, is to start talks with the Icelandic bank Kaupthing about its working capital needs amid sliding sales and tough negotiations with...