Rivers in Young has been named as one of the more than 250 stores head company Mosaic is set to close.
KPMG International announced last week that it had failed to find a new owner for the Mosaic chains of Rivers and Katies as well as Millers (which closed in Young previously) and Noni B.
At the time of going to print local employees at the store had said they had not been given any indication at this stage as to if they would close or not, however, according to the ABC the store along with Rockmans, Crossroads, Autograph, W Lane, B Me, Millers and Katies were all to close as a result of the company's collapse.
It was reported last year that the company had collapsed with the initial fallout of 250 people in head office and 2500 workers across 651 stores in Australia and New Zealand losing their jobs.
The new round of potential closures would affect the local staff amongst the 650 employees of Rivers across the country and 933 more with the shutdown of Millers and Noni B.
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According to reports by ABC the Rivers stores are said to be closing between February and mid-April following sales and promotions to sell off remaining stock.
"Despite the best efforts of all parties, we have been unable to achieve a sale of any of the brands within the Mosaic portfolio," partner at KPMG David Hardy said.
"As a result, all stores in the Mosaic Brands Group will be wound down over the coming months."
It is reported Mosaic owed creditors $249 million when it collapsed, including employees who were left with entitlements unpaid, as well as factories in Bangladesh, which it is said the company owes $30 million to.
Administrators FTI Consulting released a statement saying they are finishing their investigations and reports for the creditors.
"As the receivers have indicated, all stores will likely be closed during April, the second meeting of creditors is likely to be called and held in May," the FTI Consulting statement read.
