THE fate of several Bendigo clothing stores remains unknown after a major fashion brand announced close of up to 500 stores, driven by bushfires and COVID-19.
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Mosaic Fashion owns brands including Millers, Rockmans, Noni B, Rivers, Katies, Crossroads, Autograph and W.Lane.
It announced a "store reduction program" of 300-500 stores over the next two years as part of its full financial year results given to the Australian Stock Exchange.
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A company spokesperson said it was too soon to know whether Bendigo stores would be among those to close.
The city has a Rivers, Millers and Crossroads, in the CBD, a Noni B, Millers and Rockmans at Lansell Square, and a Katies and Autograph in the Marketplace.
The company owns about 1400 stores Australia-wide.
Its 2019-20 financial year results showed losses of $45.8 million after $49.0 provision for rents.
This was driven by bushfires and store closures of more than nine weeks because of COVID-19, both during key periods, the company stated.
Conversely the company reported strong and accelerating online sales of $93.7 million for the 2019-20 financial year.
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Elspeth Kernebone
Accident brought me to journalism, but every day convinces me again that strong media is more important than ever. After a starting off as the sole reporter in a tiny NSW town, I’m loving the teeming metropolis that is Bendigo. Focussed on health, business and education. Got a tip? Email elspeth.kernebone@bendigoadvertiser.com.au.
Accident brought me to journalism, but every day convinces me again that strong media is more important than ever. After a starting off as the sole reporter in a tiny NSW town, I’m loving the teeming metropolis that is Bendigo. Focussed on health, business and education. Got a tip? Email elspeth.kernebone@bendigoadvertiser.com.au.
