Rivers brand to shutdown as Mosaic Brands fails to secure sale

As many as 136 Rivers stores are set to close across Australia by mid-April 2025, as the retailer’s receivers and voluntary administrators confirm a sale of the business has not been secured.
KPMG partners David Hardy, Gayle Dickerson, Ryan Eagle and Amanda Coneyworth were appointed as Receivers of Mosaic Brands Group’s entities, including Rivers, on 28 October 2024, with FTI Consulting stepping in as voluntary administrators.
The Receivers are continuing to work on a transaction for the remaining brands in the Mosaic portfolio, including Millers and Noni B.
The closure of the Rivers brand will impact 136 Rivers stores and approximately 650 employees, with the timing of individual store closures will largely depend on stock levels and sell through. Sale events and promotions will be run in all stores and the Receivers encourage customers to visit their local store or the ecommerce site while stocks last.
“Unfortunately, a sale of Rivers was not able to be achieved. This means the Receivers have made the difficult decision to wind down this iconic Australian brand,” said Receiver and KPMG Turnaround & Restructuring Partner, David Hardy. “The Receivers would like to thank the Mosaic and Rivers employees who have all worked tirelessly during this difficult period, as well as Rivers’ loyal customer base who have continued to support the brands.”