Clothing retailer Jeanswest collapses, with 90 stores to close and hundreds of jobs lost

2 years ago by MHLoppy to c/news

Clothing retailer Jeanswest has collapsed, with more than 90 stores set to close within months and hundreds of employees set to lose their jobs.

In short:

Jeanswest will close more than 90 stores in Australia, putting hundreds of people out of work due to tough retail trading conditions.

The brand is the latest local retailer to collapse, after the parent company behind Rivers, Katies and Rockmans entered administration last year.

What's next?

Stock at Jeanswest stores will go on sale immediately as administrators look at ways to restructure the business to focus on online retail.

wildwhitehorses 10 points 2 years ago

I know they aren't a car manufacturer or a mine so I guess no bail out from the government.

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porcelainpitcher 8 points 2 years ago

Fuuuuck. It's so true it hurts. Satire, sometimes, is only funny for a second.

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dumblederp 3 points 2 years ago

Workers from the Mosaic collapse have already been offered assistance under the federal government's scheme to pay out workers missing entitlements.

They're getting a bit of a bailout.

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Ilovethebomb 6 points 2 years ago

They're paying the workers directly for their missing entitlements? That's astonishingly good of the government.

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hanrahan 3 points 2 years ago

That legislation waa brought in under the Howard governemnt from memory?

It's been awhile (so my memory could be faulty) but their was some large busines shit the bed back in the day and lots of employees were left missing their holiday pay, super etc and legilsation was subsequently introduced to cover it.

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Ilovethebomb 1 point 2 years ago

I'm thoroughly impressed.

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dumblederp 2 points 2 years ago

I mean they're probably paying the CEO and asking that the CEO pass it onto the workers. The CEO'll likely pay off their credit card or get some work done on their frown lines from all the stress.

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Ilovethebomb 1 point 2 years ago

Yeah, I'm sure that's how it works.

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Strayce 9 points 2 years ago

Wow, they were still around?

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MHLoppy 4 points 2 years ago

Not anymore!

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porcelainpitcher 1 point 2 years ago

... 🤨 Where you live?

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werty 1 point 2 years ago

Again? I'm sure this happened years ago.

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TinyBreak 1 point 2 years ago

claimed hundreds of thousands of dollars worth of stock, but actual value would be about 10 bucks total. Seriously cant believe they hung in as long as they did when it was 4x the price of bigw jeans at 1/8th the quality.

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