National retail chain Jeanswest has collapsed, risking the jobs at 988 employees at its 146 stores across Australia.
KPMG Administrators Peter Gothard and James Steward were on Wednesday appointed as voluntary administrators of Jeanswest Corporation.
“Jeanswest will continue to operate while the administrators conduct an urgent analysis of the business,” Mr Gothard said in a statement.
“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.”
Since opening its first store in 1972, Jeanswest has become a familiar brand across Australia selling denim and casual apparel.
The chain is currently owned and operated by Hong Kong company Glorious Sun.
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