Australia's iconic clothing and footwear retailer Rivers has announced it will shut down all 136 of its stores nationwide, after its parent company, Mosaic Brands, failed to find a buyer despite months of attempts by receivers.

The closure, which will result in the loss of 650 jobs, marks the latest chapter in the company's ongoing financial struggles, News.com reported.

Mosaic Brands, which went into administration last year, has faced severe financial hardship. Several of its retail chains were already shut down during the administration process. Despite........

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