Via Domain:
National fashion chain Jeanswest will shut nearly 40 stores across the country, running the tally of retail store closures to over 200 in the new year.
KPMG administrators Peter Gothard and James Stewart announced on Thursday the company’s restructure would result in 37 stores being closed and 263 staff made redundant, including 21 head office staff.
There are hopes a suitable buyer will emerge for the business, which was founded in 1972 and had 146 stores across the country, employing nearly 1000 people. Mr Stewart said the store closures were disappointing but necessary if the brand was to find a buyer.
The rest may go down as well yet.
