Jeanswest to Shut Down All Stores : Fashion retailer Jeanswest is set to shut down all physical stores and lay off hundreds of employees as its parent company enters administration.
Harbour Guidance, the brand’s parent company, has appointed Pitcher Partners Melbourne to oversee the business restructuring.
While all 90 brick-and-mortar locations will close, the future of the brand and its online store remains uncertain.
Jeanswest to Shut Down All Stores Amid Administration Crisis
Jeanswest currently has a workforce of over 600 employees.
The company previously entered administration in 2020, and administrators now report that trading conditions have worsened.
Administrator Lindsay Bainbridge stated that despite the owners’ efforts to keep Jeanswest operational, challenging market conditions have made it unsustainable to maintain physical stores, with little hope for improvement.
Impact on Employees and Future of the Brand
The company deeply regrets the impact these store closures will have on employees and customers and is now working closely with teams across the country.
“This is a difficult day for hundreds of Jeanswest employees, and we are committed to providing them with clarity and guidance on the next steps,” Bainbridge stated.
He added that stores would begin discounting all stock to help repay creditors.
“We will keep all stores open and continue online sales to clear inventory and secure a return for creditors,” Bainbridge said.
Jeanswest had been a staple in Australia’s retail landscape for over 50 years.
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