Melbourne-based fashion brand Jeanswest collapses for the second time

A 53-year-old retail chain that was once a mainstay of Australia’s shopping malls will shut all its 90 stores after again going bust, putting 600 jobs under a cloud.

Iconic Melbourne-based fashion brand Jeanswest has gone bust and will close all of its retail outlets in a move that puts 600 jobs at risk.

Hong Kong business Harbour Guidance, which rescued Jeanswest after it collapsed in 2020, has decided to place the business into voluntary administration, it was announced on Wednesday

Insolvency experts from Pitcher Partners are now managing the business.

Pitcher Partners said all stores would be closed “in due course” but it was hoped the brand would survive as an online operation.

Jeanswest has gone bust — again — and will close all is stores.

Insolvency experts from Pitcher Partners are now managing the business.

Jeanswest operates from over 90 locations in Australia and employs more than 600 workers.

They have 16 stores across Victoria, including in Glen Waverley, Lilydale, Point Cook, Pakenham and Mildura.

It’s head office is located in Hawthorn.

Appointed administrators Lindsay Bainbridge, Andrew Yeo and David Vasudevan said Jeanswest had fought for five years to revive the brand but concluded it was time to step back from physical stores to focus on online retail.

“The owners have done everything they can to keep Jeanswest going, but market conditions mean sustaining bricks-and-mortar stores is not viable and unlikely to improve,” they said.

Jeanswest operates from over 90 locations in Australia.

“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.”

Mr Bainbridge said it was a “hard day” for hundreds of Jeanswest team members.

“We will be working directly with the team members to provide clarity and information about the next steps,” he said.

Mr Bainbridge said he expected all store stock to go on immediate sale as the administrators began the process of restructuring the business.

“We will be opening the doors of all stores and selling online to clear all stock to secure a return to creditors,” he said.

It comes after Mosaic Brands – which owns brands including Millers, Rivers and Katies – collapsed with debts of almost $250m late last year.

It was announced in January that receivers had failed to find a buyer for Rivers.

It followed its stablemate, Katies, to Australia’s growing retail graveyard.

Originally published as Melbourne-based fashion brand Jeanswest collapses for the second time