Mosaic Brands, the parent company of popular Australian fashion brands such as Noni B, Katies, and Rivers, has announced that it has put its online retail business, EziBuy, into administration. The move comes as a result of the ongoing challenges faced by the retail industry due to the COVID-19 pandemic.

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EziBuy, which was acquired by Mosaic Brands in 2018, is an online fashion and homewares retailer that operates in Australia and New Zealand. The company has been struggling in recent years, with declining sales and increased competition from other online retailers.

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Mosaic Brands CEO, Scott Evans, said in a statement that the decision to put EziBuy into administration was a difficult one, but necessary to ensure the long-term viability of the company. "We have explored a range of options to turn around the EziBuy business, but unfortunately, the impact of COVID-19 on the retail industry has made this impossible," he said.

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The move will result in the closure of EziBuy's New Zealand operations, with the loss of around 50 jobs. The company's Australian operations will continue to trade while the administrators, KPMG, assess the business and explore options for its future.

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KPMG partner, Brendan Richards, said in a statement that the administrators would be working closely with EziBuy's management team to explore all options for the business. "We will be conducting an urgent assessment of the business and its operations, with a view to identifying opportunities to restructure and improve its performance," he said.
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The news of EziBuy's administration comes as the retail industry in Australia continues to face significant challenges due to the COVID-19 pandemic. According to the Australian Bureau of Statistics, retail sales fell by 17.9% in April 2020, the largest monthly fall on record.
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The pandemic has forced many retailers to close their physical stores and focus on online sales, which has led to increased competition in the online retail space. This has put pressure on retailers such as EziBuy, which have struggled to compete with larger online retailers such as Amazon and eBay.
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Despite the challenges faced by the retail industry, Mosaic Brands has remained optimistic about the future of its other brands. In a recent trading update, the company reported that sales had improved in May and June, and that it was well-positioned to weather the ongoing challenges of the pandemic.
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Mosaic Brands has also announced plans to open new stores for its Noni B and Rockmans brands, as well as expand its online presence. The company has said that it will continue to focus on its core brands and invest in their growth, while also exploring opportunities for strategic acquisitions.
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The news of EziBuy's administration is a reminder of the ongoing challenges faced by the retail industry, particularly in the current economic climate. However, it also highlights the importance of companies being proactive and taking decisive action to ensure their long-term viability.