In a significant blow to Australia’s retail landscape, the iconic clothing and footwear brand Rivers will close all 136 of its stores nationwide by mid-April 2025.
The closure will result in the loss of approximately 650 jobs, marking the end of a brand with a history spanning more than 160 years.
The decision comes in the wake of the collapse of Rivers’ parent company, Mosaic Brands, which entered voluntary administration in October 2024.
Mosaic Brands, which also owns other well-known retailers such as Rockmans, Millers, and Katies, faced mounting financial challenges, including debts nearing $250 million.
Despite extensive efforts by receivers KPMG to find a buyer for Rivers, no sale was achieved, leading to the announcement of the brand’s closure.
Closure Timeline and Liquidation Sales
The shutdown of Rivers stores will begin immediately, with closures scheduled to be completed by April 2025.
During this period, the brand will conduct extensive sales and promotions to clear remaining inventory. Exact closure dates will vary depending on stock levels at individual locations.
“We’ve explored all avenues to keep the brand afloat, but unfortunately, a viable solution could not be found,” said a representative from KPMG. “Our priority now is to ensure a smooth transition for employees and customers as we wind down operations.”
Impact on Employees and Customers
The closure will have a significant impact on Rivers’ workforce, with approximately 650 employees set to lose their jobs.
Mosaic Brands has assured employees that they will receive their full entitlements as part of the wind-down process.
Loyal customers have expressed disappointment over the closure, with many taking to social media to share their fond memories of shopping at Rivers.
The brand, known for its affordable and durable footwear and clothing, has been a staple in Australian households for decades.
Challenges Leading to the Closure
Mosaic Brands’ financial struggles stemmed from a combination of factors, including declining foot traffic in shopping centres, the rise of online shopping, and the lasting economic impacts of the COVID-19 pandemic.
While the company had made efforts to pivot toward online sales, these were not enough to offset the mounting financial pressures.
Other Mosaic Brands’ chains, such as Rockmans and Autograph, have also faced uncertainty, with some stores already closing and others still seeking buyers.
A Brand with a Rich History
Rivers was established in 1863, earning its reputation for high-quality footwear and apparel over the decades. The brand’s longevity and popularity made it a household name across Australia, particularly among budget-conscious shoppers seeking value for money.
What’s Next for Mosaic Brands?
While Rivers prepares to shutter its stores, Mosaic Brands’ other labels are still in limbo. Receivers are continuing their efforts to find buyers for some of the company’s remaining assets.
The broader retail group’s collapse highlights the growing challenges faced by traditional brick-and-mortar stores in an increasingly digital economy.
Final Farewell
As Rivers prepares to say goodbye, its closure marks the end of an era for Australian retail. For many, the brand’s departure is a stark reminder of the shifting dynamics in the retail industry and the need for businesses to adapt to evolving consumer preferences.
Shoppers are encouraged to take advantage of the liquidation sales in the coming months as Rivers winds down its operations for good.
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