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Nearly 500 employees will lose their jobs next month as Australian retailer Mosaic Brands shuts down all of its Katies stores, along with 80 other shops across multiple brands owned by the company.
All 80 of the Katies stores will close in mid-January as well as another 80 stores across the Millers, Rivers and Noni B brands.
The closures will impact 160 stores owned by the brand and impact roughly 480 employees, KPMG Australia, the Receivers and Managers of the Mosaic Brands group said in a statement today.
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"The decision was made following a review of the performance of Katies as a brand and the wider store network," the statement read.
"The stores identified to close have been loss-making, resulting in the decision to close them in January."
The stores will continue to trade over the Christmas period before shutting in January.
Receivers said the decision to shut down the Katies brand was "not taken lightly".
The company entered voluntary administration in October, a month after it announced it was shutting down five of its brands: Rockmans, Autograph, Crossroads, W Lane and BeMe.
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The move resulted in 200 stores being closed.
Receivers said the recent store closures would not impact the voluntary administration process.
Vaughan Strawbridge, Kathryn Evans, Kate Warwick and David McGrath of FTI Consulting were previously appointed administrators.
