Mosaic Brands will “wind down” five of its brands to focus on its other five businesses as it struggles to remain afloat due to operational issues.

The brands to be wound down are Rockmans, Autograph, Crossroads, W Lane and BeMe, as part of what Mosaic Brands CEO Erica Berchtold calls a Focus on Core plan.

This will allow the company to capitalise and invest in Millers, Noni B, Rivers, Katies, and its standalone online Mosaic marketplace.

“Each of those core brands will have a clearly differentiated market proposition, target customer, price point and product range,” said Berchtold.

“Whilst the operational details of the rationalisation plan, including store closures, continue to be worked through, we will seek to minimise the impact on our team, including where possible, reassigning impacted team members into roles within the five core brands.”

Also central to the strategy, Mosaic Brands will continue to focus on serving regional Australia, the CEO added.

Mosaic Brands said it will provide further information on its operational restructure and Focus on Core strategy in the coming weeks.

Meanwhile, the company is still finalising its FY24 annual results due to events after the reporting period that will impact the disclosures accompanying the audited results.

Its shares remain suspended from trading on the ASX until it has lodged its annual financial report.