Clothing chain Jeanswest has collapsed into administration, joining the ranks of Australian-based retailers that have succumbed to sluggish consumer spending in recent weeks.
The retailer, which employs 988 people and has 146 stores around Australia, is known for its range of denim and casualwear.
KPMG confirmed on Wednesday it had appointed voluntary administrators Peter Gothard and James Stewart to conduct an urgent analysis of the business’s finances.
Jeanswest will continue to operate while a buyer for the business is found.
The Australian brand has been challenged by current tough market conditions and pressure from online competition, Stewart said in a statement.
Read more: https://www.theguardian.com/australia-news/2020/jan/15/jeanswest-collapses-into-administration-putting-nearly-1000-jobs-at-risk
The retailer, which employs 988 people and has 146 stores around Australia, is known for its range of denim and casualwear.
KPMG confirmed on Wednesday it had appointed voluntary administrators Peter Gothard and James Stewart to conduct an urgent analysis of the business’s finances.
Jeanswest will continue to operate while a buyer for the business is found.
The Australian brand has been challenged by current tough market conditions and pressure from online competition, Stewart said in a statement.
Read more: https://www.theguardian.com/australia-news/2020/jan/15/jeanswest-collapses-into-administration-putting-nearly-1000-jobs-at-risk
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