Today marks the launch of a significant sale at 87 Jeanswest stores across Australia, featuring over 350,000 items, including 138,000 pairs of jeans. The sale is part of a strategy to clear inventory, with administrator Lindsay Bainbridge noting that 77,000 units consist of new clothing and footwear recently received, which were ordered prior to the company’s administration.
Discounts will be applied storewide, and all items will be available at reduced prices both in retail locations and online, with all sales being final during this closure event. Unfortunately, Jeanswest will shut all its Australian stores as the parent company transitions to an online-only model, although its three New Zealand locations will continue to operate.
The parent company, Harbour Guidance, engaged Pitcher Partners Melbourne as administrators last week to facilitate the restructuring of the business, which has been a staple in the Australian retail landscape for over 50 years. Bainbridge emphasised the aim of this sale is to clear stock and optimise returns for creditors while preparing for a new online-only operational phase.
The restructuring process is being supported by global asset specialists, Gordon Brothers, and Bainbridge reassured staff that they will continue to run the stores as they work through the stock, with discussions held with all employees regarding the ongoing changes.