Katies shops will certainly be closed down across the country following month together with 80 various other shops had by Mosaic Brands seeing 480 individuals shed their tasks in the New Year.
The Australian seller, which additionally possesses Millers, Rivers and Noni B, got in volunteer management in October.
A month prior to the business entered into receivership it closed down its various other brand names consisting of Rockmans, Crossroads, W Lane, BeMe and Autograph.
Receivers and supervisors at KPMG encouraged the choice to close down the shops followed an efficiency testimonial of the Katies brand name and broader shop network.
The receivers recognized the shops that would certainly be shut had actually been making a loss, which caused the choice to shut them in January.
“The receivers and managers of the Mosaic Brands Group have made the difficult decision to commence a store consolidation program which will impact approximately 160 stores across the group’s portfolio,” a representative stated.
“Impacted employees and landlords will be notified as soon as possible.”
A spokesperson stated the choice to shut the shops had actually not been ignored.
“The receivers and managers would like to thank all employees, particularly those whose tenure is coming to an end, for their commitment and support through the receivership process.”
In November, it was disclosed the business owed regarding $249m to 171 lenders and a concealed total up to 300 staff members.
Mosaic owes 23 Bangladeshi garment manufacturing facilities greater than $30m. Workers gaining a couple of hundred bucks a month informed the ABC they were fretted about feeding their family members.
