Hundreds of stores across the nation are set to shut and jobs will be lost after embattled budget retailer Mosaic Brands announced it would be shutting down the Rockmans, Autograph, Crossroads, W.Lane and BeMe brands.
Mosaic chief executive Erica Berchtold said the move was part of a broader effort to simplify the retailer’s portfolio and focus on other brands it operates, including the Katies, Noni B, Rivers and Millers.
Mosaic Brands owns Rivers, Katies, Rockmans and Noni B.
“Mosaic will wind down five brands which have become marginal and non-core, allowing us to focus on five core growth brands,” Berchtold said in a statement to the ASX.
“Each of those core brands will have a clearly differentiated market proposition, target customer, price point and product range.”
A spokesperson for the company said on Tuesday that full details of store closures and job losses had yet to be finalised, and stores would remain trading until then.
“In regards to stores it may be that core brands take over particular sites. Aligned with yesterday’s announcement team members were also briefed that a period of consultation will now begin regarding the non-core brands,” the spokesperson said.
“There will be a focus on redeploying individuals and teams to the larger core brands wherever possible and all brands will continue to trade as the details are finalised.”
There are hundreds of stores spanning those brands across the country: Rockmans has 150 stores, Autograph has 49 stores and W.Lane has 32 stores, coming to 231 in total. Each of the stores and their websites would be shut down.