perth-based fashion clothing company Jeanswest has become the latest Australian retailer to enter voluntary administration. Consultants Peter Gothard and James Stewart from KPMG have been called in to support with the process, as the company looks to restructure its Australian operations.
Jeanswest was founded in 1972, and has since grown into a substantial international operation. The company operates across Australia and New Zealand with well over 200 stores, while its parent company Glorious Sun counts more than 3,000 stores across the globe under various brands. The company specialises in denim and maternity wear.
The company’s financial woes are reportedly a product of the dampened retail climate currently prevalent across Australia. Several other companies have off late also fallen prey to the retail slowdown, with KPMG one of the leading advisors in the administration scene.
Late last year, the Big Four accounting and advisory firm hopped on board to oversee the administration of online furniture retail store Zanui, and not much later, the firm was tapped by fashion retail brand Bardot. And last month, KPMG was appointed to manage the administration of 143-year old wine manufacturing and…
