The Australian fashion brand Jeanswest’s Parent Harbor Guidance has decided to bring the retailer into voluntary administration in the midst of difficult trade conditions, reduced discretionary expenditures and the increased costs of living.
Jeanswest maintains a network of 90 stores in Australia and has a workforce of more than 600 people.
The closure of physical points of sale is planned, while the online presence of the brand and potential restructuring options are taken into consideration.
Harbor, who saved Jeanswest after the administration was introduced in 2020, Lindsay Bainbridge, Andrew Yeo and David Vasudevan van Werperpartners Melbourne appointed managers.
Bainbridge noted that, despite an attempt of five years to rejuvenate the 53-year-old fashion brand, it was necessary to withdraw from the physical retail trade to turn to e-commerce strategies.
He stated: “The owners have done everything they can to maintain Jeanswest, but market conditions mean that maintaining bricks and mortar shops is not viable and it is unlikely that it will improve.
“They deeply regret the impact of store closures on their team members and their customers, and we will now collaborate with teams throughout the country.”
Bainbridge indicated that a sale of all inventory in the store would immediately start if the appointed administrators started the industrial restructuring process.
He added: “We will open and sell the doors of all stores to erase all the shares to secure a return to creditors.”
The downfall of Jeanswest comes after KPMG, the recipients of Mosaic, another retail conglomerate that Australian brands operated Rivers, Noni B and Katies, said it would close all remaining Millers and Noni B stores because it had not protected copper.
Mosaic, which has 2500 employees in 651 stores in Australia and New Zealand, entered administration in 2024, as reported by ABC News.
“Australia’s Jeanswest comes in administration as physical stores that are close by” was originally made and published by Retail Insight Network, a brand global data.
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