Jobs axed as administrator takes over major fashion brand
JEANSWEST stores will close and hundreds of employees made redundant as administrators restructure the embattled denim business.
Six Queensland stores will be among 37 across Australia to close.
Queensland stores at Burleigh, Castletown, Chermside, Earlville, Maroochydore and the Myer Centre will close.
Jeanswest also has stores in Warwick, Toowoomba, Gympie, Fraser Coast, Springfield, Central Queensland, Bundaberg, Mackay, Dalby, Coffs Harbour, Lismore, Tweed and Ballina.
In New South Wales, stores at Lismore, Castle Towers, Charlestown, East Gardens, Kotara, Macarthur, Miranda, Shell Harbour, Singleton, Tweed City and Wetherill Park will close.
The company was put into administration last week.
Administrators Peter Gothard and James Stewart from KPMG confirmed they had started restructuring the business while the sale campaign continues.
Mr Gothard and Mr Stewart said as part of the restructure, 37 stores would be closed and 263 employees would be made redundant.
Mr Stewart said the decision to restructure the business was a difficult but necessary one taken to provide the best possible chance of attracting a new owner.
"The decision to proactively restructure the business early in the administration process has not been taken lightly," he 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."
Mr Stewart said the administrators would look to redeploy team members where possible.