Mosaic Brands' (ASX:MOZ) administrators disclosed a plan to close 160 stores in the next four to six weeks as part of a restructuring initiative to reduce costs and improve working capital, according to a Friday filing with the Australian bourse.

A total of 480 full-time, part-time, and casual employees will be let go as part of the process, while 87 staff from the head office will also be made redundant, the filing said.