More than 350,000 items, including 138,000 pairs of jeans, will go on sale this morning at 87 Jeanswest stores across Australia.
“There will be storewide discounts to shift the stock, which includes 77,000 units of new pieces of clothing and footwear that were ordered before the company entered administration and have only just arrived in warehouses,” administrator Lindsay Bainbridge said.
“Everything is reduced and sales will apply both at retail stores and online. All sales will be final during the closing event.”
Jeanswest is closing all Australian stores as the parent company pivots to operating online only, but New Zealand’s three stores will remain open.
The brand’s parent company Harbour Guidance last week appointed administrators at Pitcher Partners Melbourne to restructure the business.
The company has operated in Australia for more than 50 years.
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“The goal is to clear the stock, maximise returns for creditors and get the business ready to be restructured as an online operation,” Bainbridge said.
“We have spoken to all staff and will continue to operate all stores at this stage while we run out the stock.”
Global asset experts, Gordon Brothers, have been appointed by the administrators to support the sale.