Jeanswest in administration, to close all its physical stores

Another large Aussie retailer with staff across the country has gone into administration, with all of its physical stores to close.

The parent company of Australian born fashion icon Jeanswest has called in the administrators as they come up with a plan to shut down the brand’s retail stores, just a few years after buying the brand.

Jeanswest has now entered voluntary administration for the second time since 2020, with the business unable to keep its physical stores open.

The shutting down of the physical retail chain will impact 600 employees across 90 stores. The business will still operate online.

Jeanswest says it is closing down its physical stores. Picture: NewsWire / Nicholas Eagar

Harbour Guidance Pty Ltd, the corporate entity behind the Jeanswest brand, on Wednesday appointed Pitcher Partners Lindsay Bainbridge, Andrew Yeo, and David Vasudevan as joint administrators.

Mr Bainbridge said the company fought for five years to revive the 53-year-old brand but concluded it had to shut down its physical stores.

“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.

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.

Originally published as Jeanswest in administration, to close all its physical stores