Fashion retailer Jeanswest is set to close all its physical stores, resulting in the loss of more than 600 jobs, as its parent company, Harbour Guidance, enters administration.
Administrators from Pitcher Partners Melbourne have been appointed to oversee the restructuring of the business. While all 90 brick-and-mortar stores will be shutting down, it remains uncertain whether the brand’s online store will continue operations.
This marks the second time Jeanswest has faced financial troubles, having previously entered administration in 2020. The administrators cited difficult trading conditions as the reason behind the closures.
"The owners have done everything possible to keep Jeanswest running, but with the current market conditions, sustaining physical stores is no longer feasible," said administrator Lindsay Bainbridge.
Bainbridge expressed regret over the impact on employees and customers, assuring that efforts are underway to provide support and clarity to affected staff.
To help repay creditors, the company will be offering major discounts on all remaining stock, both in-store and online, as it winds down operations.
Jeanswest has been a staple in Australian fashion for over 50 years, making this closure a significant moment for the retail industry.
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