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Dozens of Jeanswest stores to close, hundreds made redundant

Published: (Updated: ) in Australian News by .

Jeanswest’s administrators have confirmed which of its stores will be shuttering after the retailer went under last week.

Jeanswest's administrators have confirmed which of its stores will be shuttering after the retailer went under last week.

It has been announced 263 employees would be made redundant, and 37 shops would be closed.

In NSW, Blacktown, Castle Towers, Charlestown, East Gardens, Kotara, Lismore, Macarthur, Miranda, Shellharbour, Singleton, Tweed City and Wetherill Park stores will close.

Jeanswest has gone into voluntary administration.

In Queensland, Burleigh, Castletown, Chermside, Earlville, Maroochydore and Myer Centre stores will be closed.

In Victoria, the Doncaster, Eastlands, Echuca, Forest Hill, Karingal, Rosebud, Southland, The District Docklands and Watergardens stores will be closed.

In Western Australia, stores at Carousel, Centrepoint, Karrinyup, Mandurah, Mirabooka and Rockingham will shut.

In South Australia, Castle Plaza, Marion and Westlake will shut. The Hobart City store in Tasmania will also close.

Jeanswest operates 146 stores across the country.

KPMG were appointed as voluntary administrators last Wednesday.

They announced the retailer would continue operating as a potential buyer is sought.

James Stewart, head of retail restructuring at KPMG, said a number of factors led to the iconic brand's financial demise.

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

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

Jeanswest was first established in Perth in 1972.

Victoria was primarily the retailer's strongest revenue source, where they operated 32 stores and employed 309 staff, across both retail locations and head office.

KPMG has informed creditors the first meeting to discuss the future of the company will be held on Tuesday, February 28.

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Source: 9News

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