Jeanswest, the fashion retailer known for its denim apparel, is set to close all its physical stores and lay off a significant number of employees as its parent company, Harbour Guidance, has entered administration. The company, which has been a staple in Australian retail for over 50 years, has appointed Pitcher Partners in Melbourne as administrators to aid in the restructuring process.
Currently, Jeanswest operates around 90 stores across the country and employs more than 600 staff members. The decision to close these locations comes in response to increasingly challenging market conditions for brick-and-mortar retail, as highlighted by administrator Lindsay Bainbridge. He expressed regret over the impact these closures will have on both employees and customers, emphasising that the owners have made every effort to sustain the brand but ultimately found it unsustainable under current trading conditions.
Though the physical stores will shut, the future of the Jeanswest brand and its online platform has yet to be determined. Administrators have indicated that the remaining stock will be liquidated through price cuts, with sales taking place both in-store and online to help reimburse creditors. Bainbridge assured that the team is committed to offering support and clarity to employees during this tough transition.
This marks the second time Jeanswest has found itself in administration, having first faced such a crisis in 2020. The ongoing struggles in the retail sector have made it increasingly difficult for many businesses to maintain viability. As this situation unfolds, the focus will now shift to the management of store closures and the path forward for the company and its staff.