Mosaic Brands moves to close 250 additional stores

Mosaic Brands owns Rockmans, Katies, Autograph, W-Lane, Crossroads, Beme, Millers and Noni B. Managers announced the mass closures at their annual general meeting on Thursday.

Managing director Scott Evans said the company had already closed 73 stores but more would go.

"The nature of bricks and mortar retail has changed forever and consistent with our update in August we will move aggressively to close stores where the landlord has pre COVID-19 rental expectations," he said.

"We will not maintain lease agreements that don't match the needs of our customers... we have already closed 73 stores over the past three months and expect further closures of up to 250 stores nationally by the end of this financial year.

"We are very conscious of the impact this has on our people along with the communities they serve. We are providing support to all impacted team member as well as offering redeployment opportunities where possible."

The company is yet to release a list of affected locations.