Jeanswest to close every store in the country within SIX weeks after shock collapse
- Retail giant will close its 87 stores after parent company collapse
- READ MORE: Beloved Aussie fashion retailer announces 90 stores will close
All 87 Jeanswest stores across the country will close their doors in the next six weeks.
The Aussie fashion giant announced last month that up to 90 stores would close and up to 600 jobs would be axed after its parent company Harbour Guidance collapsed.
Last month, administrator Lindsay Bainbridge said the news of the closure of stores and job losses was 'a hard day' for staff.
'The owners have done everything they can to keep Jeanswest going, but market conditions mean sustaining bricks-and-mortar stores is not viable and unlikely to improve,' he said.
'They deeply regret the impact of store closures on their team members and their customers, and we will be working now with teams across the country.
'This is a hard day for hundreds of Jeanswest team members and we will be working directly with the team members to provide clarity and information about the next steps.'
The administrators previously said they'd identified a related party debt of about $40million.
Administrators put the company's failure down to an 'unsustainable business model'.
Shoppers will only have weeks to visit Jeanswest after it announced it would close their doors
Jeanswest had been operating across Australia for more than 50 years, after opening its first store in Perth in 1972
The stores have cut prices on all stock in a bid to partially repay its creditors.
Last week, administrators revealed more than 53,000 pairs of jeans had been sold in the first week of a nationwide discounting campaign.
Administrators are looking to shift more than $20million worth of stock.
Jeanswest had been operating across Australia for more than 50 years, after opening its first store in Perth in 1972.
In 2017, the owner of Jeanswest claimed Australians were forking out their money for 'lifestyle spending' on travel and televisions, rather than buying new clothes.
He said this led to 'lethargic' and 'slothful' retail habits.
The brand has three stores in New Zealand, which are not part of the administration process and will remain open for business.
