Australian garments and shoes brand name Rivers will certainly close down all 136 shops by mid-April after it fell short to discover a purchaser. Some 650 work are anticipated to be shed from the collapse.
It adheres to moms and dad firm Mosaic Brands getting in volunteer management inOctober The closure makes Rivers the 7th brand name in the team to be closed, complying with in the footprints of Rockmans, Autograph, Crossroads, W.Lane and BeMe in September, adhered to by Katies in December.
The timing of private shop closures will certainly differ and rely on supply degrees, with sale occasions and promos to run in all shops.
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KPMG companions David Hardy, Gayle Dickerson, Ryan Eagle and Amanda Coneyworth were selected as receivers.
“Unfortunately, a sale of Rivers was not able to be achieved,” Hardy said in a statement.
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“This means the Receivers have made the difficult decision to wind down this iconic Australian brand.
“The receivers would like to thank the Mosaic and Rivers employees who have all worked tirelessly during this difficult period, as well as Rivers’ loyal customer base who have continued to support the brands.”
The background of Rivers go back to 1863, beginning as the Paddles Operation in the rear of a residential or commercial property in Charlton.
Rivers was developed in 1979, with the very first store opening on George Street in Sydney offering males’s shoes in 1983.
Receivers are still searching for customers for Mosaic’s continuing to be brand names Millers and Noni B.
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