NATIONAL clothing retailer Jeanswest has gone into administration, leaving the future of Mildura’s Langtree Mall store uncertain.
It was announced on Wednesday afternoon voluntary administrators had been appointed and the business was seeking to “restructure”.
KPMG administrators Peter Gothard and James Stewart said in a statement Jeanswest would continue to operate while an “urgent analysis” of the business took place.
“The administrators will be looking at all options for the restructure or sale of this established Australian retail business and are seeking urgent expressions of interest from parties interested in acquiring or investing in the business,” Mr Gothard said in the statement.
“Jeanswest is an iconic Australian denim brand, well known in the leisure and casual wear market place,” KPMG’s retail restructuring practice leader James Stewart added.
“Like many other retailers, the business has been challenged by current tough market conditions and pressure from online competition.
“The administration provides an opportunity for Jeanswest to restructure so as to better respond to the challenging Australian retail market.”
The announcement follows department store chain Harris Scarfe entering receivership in December, resulting in the imminent closure of Mildura’s Harris Scarfe Home store.
Mildura’s Dimmeys store confirmed late last year it would also close.
The first Jeanswest store was opened in Perth in 1972 and there are now 146 across Australia, employing 988 people.
