![]() 'The brands continue to benefit from the strong return to instore shopping post covid and have delivered +18 per cent comparable in-store sales growth for the January to March period against the prior year.'Įstablished in 1978 as a mail order business by brothers Peter and Gerard Gillespie in Palmerston North, New Zealand, EziBuy describes itself on its website as a leader in the apparel and homeware catalogue market. 'Today's announcement has no impact on any other of the nine retails brands within the group's portfolio,' the company added. Mosaic added the announcement has no impact on any other of the nine retail brands within the group's portfolio, including Millers, Rockmans, Noni B, Rivers, Katies, Autograph, Crossroads and Beme.ĮziBuy is currently spruiking a 'early Easter surprise' sale on full-priced women's clothing 'This process to restructure EziBuy is in the best interests of the group's shareholders as it will improve the Group's overall net asset position and operating cashflow.' 'Mosaic intends to propose a restructure to the administrator that would see EziBuy emerge as a simplified, profitable, cash-generative online-only operation, and one that is more strongly aligned with the group's successful digital strategies across its other brands. 'Having considered the results of that review, the board determined that it was in the group's best interests as a whole that the EziBuy business be restructured. 'The extent of EziBuy's sales decline, particularly in the context of the group's wider positive portfolio of online performance, prompted the board to conduct a strategic review of its operating and cost structure,' Mosaic told investors in a market update on Monday. ![]() Online fashion and homeware multichannel retailer EziBuy is the latest popular retailer to go into administration
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