March 25, 2020 / 1:43 AM / 7 days ago

BRIEF-Mosaic Brands Suspends All Store Operations Temporarily Due To Covid-19

March 25 (Reuters) - Mosaic Brands Ltd:

* SUSPENDS ALL STORE OPERATIONS TEMPORARILY FROM THURSDAY DUE TO COVID-19

* ALL TEAM MEMBERS AFFECTED BY STORE CLOSURES WILL BE STOOD DOWN WITH ACCESS TO LEAVE ENTITLEMENTS WHILE GROUP REVIEWS GOVERNMENT SCHEMES

* RECENTLY SEEN A SIGNIFICANT DROP IN STORE TRAFFIC AND REVENUE

* ONLINE OPERATIONS WILL CONTINUE THROUGH THIS PERIOD

* REVIEWING COST OF DOING BUSINESS, WITH A VIEW TO CUT COSTS TO MATCH EXPECTED REVENUE

* STEPS ARE BEING TAKEN TO PROVIDE LONGER-TERM JOB SECURITY TO ITS 6,800 PREDOMINANTLY FEMALE TEAM Source text for Eikon: Further company coverage:

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