Fashion retailer set to close stores in the coming weeks

Jeanswest will close down all of its stores in the next six weeks, leaving hundreds out of a job.

Reports suggest Jeanswest will close in six-weeks NewsWire / Simon Bullard.

Jeanswest will close all 87 of its retail stores in the next six weeks, after going into voluntary administration in late March.

The company behind the iconic retailer, Harbour Guidance, which bought out Jeanswest in 2020, has made the decision to run as an exclusively online retailer.

The Aussie fashion giant last month announced the store closures, which could impact up to 600 jobs.

Jeanswest will look to sell off the remaining stock and close the doors for the last time in six weeks, The Australian reported.

Reports suggest Jeanswest will close in six-weeks NewsWire / Simon Bullard.

It is believed administrators Lindsay Bainbridge, Andrew Yeo and David Vasudevan from Pitcher Partners in Melbourne have applied for an extension to the deadline for holding a second creditors’ meeting.

They are looking to sell off remaining stock, with reports last week revealing they sold more than 53,000 pairs of jeans in the first week of a nationwide discounting campaign, estimated to be worth more than $20m.

It is at the second meeting where creditors will vote to either approve the DOCA proposal – a payment plan that would hand back control to the company’s directors and save the brand – or appoint liquidators to wind up the company.

While the bricks and mortar business operations are set to close in due course, the brand and online store may be continuing and all restructuring options remain open.

It is believed Jeanswest has sold $20m worth of stock since announcing sales. NewsWire / Simon Bullard.

Mr Bainbridge said the company had fought for five years to revive the 53-year-old brand but had 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,” he said.

“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 acknowledged the impact of the decision on staff.

“This is a hard day for hundreds of Jeanswest team members and we will be working directly with the team members to provide clarity and information about the next steps,” he said.