Aurora Fashions, a new company founded to buy out some of Mosaic Fashions brands, has hired retail property consultant Harper Dennis Hobbs to renegotiate leases of stores with landlords.
Aurora Fashions, a company jointly owned by Kaupthing bank and former management of Mosaic led by Derek Lovelock, bought clothing chain Warehouse, Oasis, Coast, Karen Millen and Anoushka G out of administration in a pre-pack deal yesterday.
Harper Dennis Hobbs has been appointed to advise and manage ‘initial and transitional communication with all landlords of the group’s property portfolio’.
The group has leases of 1400 outlets in the UK and is thought to want to negotiate cheaper rents on its stores.
As tipped by Property Week on Saturday the break up of the Mosaic Fashions group is part of a pre-pack administration deal.
Administrator Deloitte was appointed yesterday.
Deloitte will trade the remaining two Mosaic entities, Principles and The Shoe Studio, until a sale is made.
Principles has 94 shops and more than 300 concessions.
The Shoe Studio has 13 shops and 270 concessions.
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