Jeanswest stores continue to operate while buyer is sought for financially stricken business

Jeanswest at Miranda. Picture: Chris Lane
Jeanswest at Miranda. Picture: Chris Lane

Nearly 1000 staff at Jeanswest stores, including Miranda, Hurstville and Rockdale, face a nervous wait after the clothing retailer collapsed into voluntary administration.

All stores will continue to trade while administrator KPMG seeks a buyer for the business.

Pressure from online competition has been given as a major reason for the retailer's collapse.

KPMG will conduct an "urgent analysis" of the business, concentrating on where costs could be saved.

All options to prevent the mass closure of stores would be expolored, said KPMG partner Peter Gothard.

Head of retail restructuring at KPMG, James Stewart, said a number of factors led to the retailer's collapse.

"Like many other retailers, the business has been challenged by current tough market conditions and pressure from online competition," Mr Stewart said.

"The Administration provides an opportunity for Jeanswest to restructure so as to better respond to the challenging Australian retail market."

The business, which was founded in Australia but is owned by a Hong Kong firm, has 146 stores across Australia, with 988 staff.

The first Jeanswest store opened in Perth in 1972, and the brand has since expanded internationally to countries including China, Russia, Vietnam and Indonesia.