Jeanswest in voluntary administration: Future of region's stores unknown

FUTURE UNCERTAIN: One of the 146 Jeanswest stores facing an uncertain future following the news the company has entered voluntary administration. Photo: ALEXANDER DARLING
FUTURE UNCERTAIN: One of the 146 Jeanswest stores facing an uncertain future following the news the company has entered voluntary administration. Photo: ALEXANDER DARLING

FASHION chain Jeanswest has been put into voluntary administration, with the future of staff in three Central West stores uncertain.

The retailer has 146 stores across Australia and employs 988 staff, with its head office in Melbourne.

There are three outlets in this region - Dubbo, Orange and Goulburn - and administrator KPMG will not comment on the future of these stores or jobs for staff.

KPMG's Peter Gothard and James Stewart were appointed as administrators for the struggling retailer on Wednesday.

Mr Gothard said Jeanswest would continue to operate while the administrators conduct an urgent analysis of the business.

"The administrators will be looking at all options for the restructure or sale of this established Australian retail business and are seeking urgent expressions of interest from parties interested in acquiring or investing in the business," he said.

Mr Stewart, KPMG's retail restructuring practice leader, said Jeanswest was an iconic Australian brand.

"Like many other retailers the business has been challenged by current tough market conditions and pressure from online competition," he said.

"The administration provides an opportunity for Jeanswest to restructure so as to better respond to the challenging Australian retail market."

The announcement follows struggles for other large retail chains including EB Games, Harris Scarfe, The Reject Shop, Target and Big W.

Love local news?

Why not subscribe, the first 30 days of full website access is free.

What do you think?

This story Fashion retailer Jeanswest collapses, future of staff uncertain first appeared on Daily Liberal.