Fashion retailer Jeanswest will close all brick-and-mortar stores and cut hundreds of jobs as its parent company enters administration.
The brand’s parent company Harbour Guidance have appointed administrators at Pitcher Partners Melbourne to restructure the business.
While the company’s 90 physical stores will close, it is not yet known if the brand and its online store will remain open.
Jeans West currently employs more than 600 staff.
In 2020, the company was placed in administration due to challenging trading conditions, which have now exacerbated.
Administrator Lindsay Bainbridge remarked, “The owners have made every effort to sustain Jeanswest, but the current market conditions do not support the continued operation of physical stores and are unlikely to ameliorate.”
“They deeply regret the impact of store closures on their team members and their customers, and we will be working now with teams across the country.
Expressing empathy for the Jeanswest employees, Bainbridge said, “This is a difficult day for the many team members at Jeanswest, and we are committed to working closely with them to offer guidance and information on the next steps.”
He said the stores would now cut prices on all stock in a bid to partially repay their creditors.
“We will be opening the doors of all stores and selling online to clear all stock to secure a return to creditors,” Bainbridge said.
Jeanswest was operating across Australia for more than 50 years.
