Jeanswest collapses into administration putting nearly 1,000 jobs at risk

Clothes chain Jeanswest has collapsed into management, becoming a member of the ranks of Australian-based outlets that have succumbed to slow shopper spending in fresh weeks.

The store, which employs 988 other people and has 146 retail outlets round Australia, is understood for its vary of denim and casualwear.

KPMG showed on Wednesday it had appointed voluntary directors Peter Gothard and James Stewart to behavior an pressing research of the companies budget.

Jeanswest will proceed to function whilst a purchaser for the trade is located.

The Australian emblem has been challenged by means of present tricky marketplace prerequisites and drive from on-line pageant, Stewart mentioned in a remark.

“The management supplies a possibility for Jeanswest to restructure as a way to higher reply to the difficult Australian retail marketplace,” he added.

Jeanswest opened its first retailer in Perth in 1972.

It used to be bought in 2017 by means of the Hong Kong-based Yeung Circle of relatives Corporate.

A gathering with collectors is because of be held in Melbourne on 28 January.

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