Ezibuy parent company Mosaic Brands goes into administration

By Susan Edmunds of RNZ Ezibuy ’s parent company has appointed administrators and this time it includes other brands, including Katies and Millers. Mosaic Brands told the Australian Securities Exchange ( ASX ) it had received the support of a majority of its commercial partners and the board had been confident in a restructuring process it had underway. That included simplifying operations and reducing the number of shops, focusing on “key growth brands” and reducing costs.

Mosaic told the market the process had involved talking to its lenders, suppliers, landlords and the Australian Competition and Consumer Commission (ACCC)..