US EditionJeanswest parent company enters administration, hundreds of Australian jobs at risk
- Fashion retailer Jeanswest will close all brick-and-mortar stores and cut hundreds of jobs after its parent company entered administration, affecting more than 600 employees across Australia.
- Trading conditions have become increasingly tough for retailers, prompting administrators from Pitcher Partners to manage the restructuring process after appointing them to oversee Jeanswest's parent company, Harbour Guidance.
- All store stock is set to go on immediate sale to secure a return to creditors as the company begins the restructuring process.
- Lindsay Bainbridge emphasized that maintaining brick-and-mortar stores is not viable and expressed regret over the impact of the closures on employees and customers.
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Jeans West to Shut All 90 Stores in Latest Casualty of Australia’s Retail Crisis
Australian fashion retailer Jeans West is set to shut 90 stores and put 600 jobs at risk after owners Harbour Guidance appointed administrators. With a history dating back to 1972, the brand has been well-recognised for over half a century, but the name may disappear from the market as mid-tier fashion brands face mounting pressure from rising costs, declining consumer spending, and growing competition from online fast fashion. Lindsay Bainbridg…
·New York, United States
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Total News Sources35
Leaning Left11Leaning Right6Center2Last UpdatedBias Distribution58% Left
Bias Distribution
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58% Left
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11%
R 32%
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