The Australian federal government said it would support to current and former employees of Mosaic Brands (ASX:MOZ) after the firm's administrators declared store closures, according to a Wednesday release from the Department of Employment and Workplace Relations.
The receivers and managers had earlier said that the planned closure of Rivers, Millers, Noni B, and the remaining brands and stores in the Mosaic Brands portfolio is expected to shutter 388 stores, directly impacting 1,583 employees.
The workers will receive immediate assistance to help them find a job or to access training.
The department provided a list of businesses with current vacancies relevant to Mosaic Brands employees.
It is also scheduling a series of online information sessions to provide more detailed information about the different types of support it provides.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.