Women’s clothing brands Millers and Noni B will close their doors after receivers for parent company Mosaic Brands failed to secure a buyer.

More than 250 stores, including 11 in New Zealand, are expected to close by April leaving about 930 workers without jobs.

Millers and Noni B were the ASX-listed company’s last two brands after it announced well-known labels Katies and Rivers would close.

Partner at receiver KPMG David Hardy said last week the Rivers closure would affect 136 stores and about 650 employees.

On Wednesday, he announced the closure of Mosaic’s remaining brands.

“Despite the best efforts of all parties, we have been unable to achieve a sale of any of the brands within the Mosaic portfolio,” he said.

“As a result, all stores in the Mosaic Brands Group will be wound down over the coming months.”

Sales will be held in all outlets and the timing of each store closure will depend on stock levels. All shops are expected to close by mid-April.

Mosaic went into voluntary administration in October, with KPMG partners and FTI Consulting appointed as respective receivers and administrators.

The decision followed the company discontinuing five of its signature brands – Rockmans, Autograph, Crossroads, W.Lane and BeMe – in September and closing stores as it tried to put its finances on a sound footing.

The group had 763 stores and employed about 3000 people in Australia and New Zealand.

According to Mosaic’s financial report from August 2023, it had 150 Rockmans stores, 49 Autograph stores and 32 W.Lane stores. BeMe and Crossroads were online-only outlets.

Last February, Mosaic said it made a $5.4 million net profit, up 38 per cent from the previous quarter.

But it also ended 2022-23 with a net liability position of $66 million, including $39 million in debt and $45 million in lease liabilities, which its annual report noted “may cast significant doubt on the group’s ability to continue as a going concern”.

At the time, Mosaic’s board of directors expressed optimism the company would be able to pay its debts as and when they fell due.

Mosaic’s shares have been suspended from the ASX since September 2 because of a delay in filing its 2023/24 financial report, which was due in August.

-with AAP