All Stores of the Iconic Australian Brand Rivers to Shut Down

The iconic clothing and footwear brand Rivers is to shut down all 136 of its stores nationwide by the middle of April 2025, severely harming Australia's retail industry.

About 650 jobs will be lost as a result of the closure, which will bring an end to a brand that has more than 160 years of existence. Following the closure of Rivers' parent business, Mosaic Brands, which went into voluntary administration in October 2024, the decision, was made.

The brand's closure was announced after receivers KPMG made a lot of attempts to find a buyer for Rivers but was unsuccessful. Rivers outlets will start to close right away, and they should be finished by April 2025.

To get rid of any leftover inventory, the company will run a lot of deals and promotions during this time. The precise closing dates will change based on the amount of inventory at each location.

A number of reasons contributed to Mosaic Brands' difficulties, including the COVID-19 epidemic's long-lasting effects on the economy, the development of internet shopping, and the decline in foot traffic in retail malls. The company's attempts to shift its focus to internet sales were insufficient to counteract the growing financial strains.