**KPMG, FTI Appointed As Mosaic Brands Enters Administration**

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Post on Oct 29, 2024

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KPMG, FTI Appointed as Mosaic Brands Enters Administration

Mosaic Brands, the Australian fashion retailer, has entered voluntary administration, with KPMG and FTI Consulting appointed as administrators. This move comes after the company faced increasing financial pressure, including declining sales and mounting debt.

A Difficult Time for Mosaic Brands

The announcement marks a challenging chapter for Mosaic Brands, which owns a portfolio of well-known fashion labels including Noni B, Rockwear, and Millers. The company has struggled in recent years, grappling with the impact of the COVID-19 pandemic, changing consumer preferences, and intense competition within the Australian retail sector.

The Role of KPMG and FTI Consulting

KPMG and FTI Consulting have been appointed as administrators, tasked with exploring all options to restructure the business. This includes assessing the company's financial position, identifying potential buyers, and negotiating with creditors. The administrators will work closely with Mosaic Brands' management team to ensure the smooth operation of the business during the administration period.

What Happens Next for Mosaic Brands?

The future of Mosaic Brands remains uncertain. The administrators will assess the viability of the business and determine the best course of action for its future. This could involve a sale of the entire business, a restructuring of the company, or even liquidation.

Impact on Employees and Suppliers

The administration process will likely have an impact on Mosaic Brands' employees and suppliers. Employees may experience uncertainty about their job security, while suppliers could face delays in payments. The administrators will work to minimize the disruption caused by the administration process.

Key Takeaways:

• Mosaic Brands has entered voluntary administration due to financial pressure.
• KPMG and FTI Consulting have been appointed as administrators to assess the company's situation and explore restructuring options.
• The future of Mosaic Brands remains uncertain, with potential outcomes including sale, restructuring, or liquidation.
• The administration process could impact employees and suppliers, and the administrators will work to mitigate the disruption.

This development highlights the challenges faced by Australian retailers in the current economic climate. The outcome of the administration process will be closely watched by the industry, as it could have significant implications for the future of Mosaic Brands and its brands.