Iconic Australian brand Rivers to shut down operations, leaving over 600 jobless

Rivers, an Australian footwear and clothing brand with a 160-year history, is closing all 136 stores, impacting over 600 employees. The shutdown follows failed sell-off efforts and the financial collapse of its parent company, Mosaic Group, which filed for administration with debts of $249 million. Supply chain issues exacerbated by Covid-19 contributed to its downfall.