MILDURA’S Jeanswest store has been spared the axe by administrators seeking to save the embattled retailer.
In a statement circulated to media on Thursday, KPMG announced 37 stores in the national chain would be closed and 263 employees made redundant.
KPMG, which was appointed after Jeanswest entered voluntary administration this month, are attempting to restructure the business so it can be sold to a new buyer.
“The decision to proactively restructure the business early in the administration process has not been taken lightly,” voluntary administrator James Stewart said.
“We are very mindful of the serious impact store closures and staff redundancies have on people’s lives.
“However, we must also work to maximise the opportunity for this business to be sold or restructured – to give it the best chance to continue.”
The list of 37 store closures features a combination of regional stores, including Echuca, and suburban and inner-city outlets.
