Fashion retailer Mosaic Brands which owns Katie’s, Rivers, Millers and Noni B has announced it will be closing 250 stores.

The company was on track in August to close up to 500 stores nationwide as landlords refused to cancel rents amid the coronavirus crisis.

Mosaic Brands currently has 1400 stores across Australia which also includes Rockmans, Katies, Autograph and Beme.

Mosaic Brands Chief Executive Scott Evans said, “We’re encouraged that a number of landlords have in recent weeks come to the table on rental reductions but not all have and we expect up to a further 250 store closures by June 2021.”