The parent company of Jeanswest has entered voluntary administration, making it the latest retailer to collapse in a brutal environment for Australian fashion brands.
Harbour Guidance Pty Ltd, the corporate entity behind the Jeanswest brand, on Wednesday appointed Lindsay Bainbridge, Andrew Yeo, and David Vasudevan of Pitcher Partners melbourne as joint administrators.
The administration will see 90 physical stores close across Australia, affecting 600 team members.
It is not yet clear what support will be offered to those workers.
The administrators are now considering options to keep the brand and its online retail operations alive.
While trying to save the brand name, the administrators have launched an immediate online sale, and plan to honour all gift cards and loyalty points at this point.
A creditors’ meeting is set for April 4.
In a statement obtained by SmartCompany, Bainbridge said the decision was the result of harsh economic conditions for discretionary retail.
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